Blanket Liens in Contracts

What we've seen…

Financing contracts that include blanket liens on all practice assets—including paid-off office equipment, accounts receivable and cash.

How to protect yourself…

Blanket liens are common with bank financing and an important consideration for business owners when financing.

For example, if you want to leverage your assets and use them as collateral (e.g., get a line of credit to expand your practice) but have a blanket lien, you would be required to get permission from your lender before doing so.

Lease/Loan Comparison Hotline:

As a no-obligation service for policyholders, you can call NCMIC's Lease/Loan Comparison Hotline. A specialist will compare a lease or loan you're considering to ours—before you sign on the dotted line.

Call 800-396-7157, ext. 6939
Learn more about the lease/loan comparison hotline

While NCMIC does not provide legal advice, we'd be happy to compare it to our contract and point out differences in terms and fees.

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Equipment Loans


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800-915-3007 ext. 5418

Existing Loans

Equipment loans offered by NCMIC Finance Corporation are subject to credit approval. You should consult an attorney or financial advisor for specific legal or tax advice before entering into any financing arrangement. NCMIC and the equipment vendor you select are separate companies, are not agents of one another, and have no authority to bind one another to financial or other contractual obligations.