GMBP Frequently Asked Questions

What is Green Mountain Budget Plan?

Green Mountain Budget Plan (GMBP) provides Insurance Premium Financing available to Insurance Brokers that have an executed brokerage agreement with Green Mountain Agency Inc (GMA). GMBP is a Vermont based licensed Premium Finance Company. All agreements are executed, and all payments are made, in the State of Vermont. GMBP is a member of the National Premium Finance Association (NFPA).

Using state of the art web-based software AMS FinancePro from AMS Services, GMBP delivers fully automated premium finance quoting available to agents and brokers 24 hours a day! This system provides, to the agent or broker, access to many reports on insured account information, payment history, pre-payment information and much more. In addition, our sytem allows the customer, the insured, to make installment payments directly from their checking account.

Does GMBP finance premiums for policies from sources other than GMA?

GMBP was established to efficiently provide inexpensive fixed-rate financing options to Agents and Brokers placing business through GMA. We understand that sometimes, as an Agent or Broker, you are forced to place multiple policies from various sources to satisfy the Insured's needs. When that happens, we would be happy to extend the financing to other policies, providing the Carrier or Wholesaler/MGA meets our minimum standards and State regulations allow. As such, GMBP will finance premiums for policies from most sources, as long as the broker maintains a current brokerage agreement with Green Mountain Agency, Inc.

What payment options are available?

The standard payment plan available consists of a 25% down payment followed by eight equal monthly installments. The amount of downpayment, and the number of installments to be paid, could vary depending on the insurance policy terms and conditions, the type and scope of the insured?s business and the credit rating of the insured. All terms of the loan, including the payment schedule and interest rate charged, are reflected on the finance agreement.

GMBP is very open to negotiating the terms of the finance agreement. If you receive a premium finance quotation from us which requires special terms or conditions, please let us know immediately. This would include custom rates, custom deposit amounts or custom payments such as six or ten payments rather than eight. We are here to help you get it done quickly and efficiently while getting the best deal you can for your customer, the Insured.

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