Standard Premium Finance Holdings (Standard Premium Finance Holdings) Effective Interest Rate on Debt % : 10.06% (As of Mar. 2024)

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What is Standard Premium Finance Holdings Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Standard Premium Finance Holdings's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $5.38 Mil. Standard Premium Finance Holdings's average total debt for the quarter that ended in Mar. 2024 was $53.46 Mil. Therefore, Standard Premium Finance Holdings's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 10.06%.

Standard Premium Finance Holdings Effective Interest Rate on Debt % Historical Data

The historical data trend for Standard Premium Finance Holdings's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Standard Premium Finance Holdings Effective Interest Rate on Debt % Chart

Standard Premium Finance Holdings Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

7.43

6.89

6.80

7.74

9.75

Standard Premium Finance Holdings Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial													9.18	9.39	10.36	9.90	10.06

Competitive Comparison of Standard Premium Finance Holdings's Effective Interest Rate on Debt %

For the Credit Services subindustry, Standard Premium Finance Holdings's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Standard Premium Finance Holdings's Effective Interest Rate on Debt % Distribution in the Credit Services Industry

For the Credit Services industry and Financial Services sector, Standard Premium Finance Holdings's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Standard Premium Finance Holdings's Effective Interest Rate on Debt % falls into.

Standard Premium Finance Holdings Effective Interest Rate on Debt % Calculation

Standard Premium Finance Holdings's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -4.591	/	( (42.391	+	51.742)	/ 2 )
=	-1 * -4.591	/	47.0665
=	9.75 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	8.001	+	34.39
=	42.391

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	6.551	+	45.191
=	51.742

Standard Premium Finance Holdings's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Dec. 2023 )	+	Total Debt (Q: Mar. 2024 ))	/ count )
=	-1 * -5.376	/	( (51.742	+	55.181)	/ 2 )
=	-1 * -5.376	/	53.4615
=	10.06 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	6.551	+	45.191
=	51.742

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	6.734	+	48.447
=	55.181

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Standard Premium Finance Holdings (OTCPK:SPFX) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Standard Premium Finance Holdings Effective Interest Rate on Debt % Related Terms

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Standard Premium Finance Holdings (Standard Premium Finance Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » Standard Premium Finance Holdings Inc (OTCPK:SPFX) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

13590 SW 134th Avenue, Suite 214, Miami, FL, USA, 33186

Website

https://www.standardpremium.com

Standard Premium Finance Holdings Inc is a specialized finance company that makes collateralized loans to businesses and individuals to finance the insurance premiums they pay on their commercial property and casualty insurance policies. The company operates in the states of Arizona, Florida, Georgia, North Carolina, South Carolina, Texas and Tennessee. The company originate loans mainly in Florida, although it operates in several states. It generates the majority of its revenue through interest income and the associated fees earned from loan products.

Executives

John Leavitt	director	13590 SW 134TH AVE #214, MIAMI FL 33186
Brian Krogol	director, officer: CFO	13590 SW 134TH AVE #214, MIAMI FL 33186
William Koppelmann	director, 10 percent owner, officer: CEO	13590 SW 134TH AVE #214, MIAMI FL 33186
Margaret Ruiz	officer: Corporate Secretary	13590 SW 134TH AVE #214, MIAMI FL 33186
Victor Galliano	officer: VP of Marketing	13590 SW 134TH AVE #214, MIAMI FL 33186
Robert Mattucci	officer: VP of Sales	13590 SW 134TH AVE #214, MIAMI FL 33186
Ramon Mejido	officer: VP of Technology	13590 SW 134TH AVE #214, MIAMI FL 33186
Samuel Konig	director, officer: Executive Vice President	19707 TURNBERRY WAY, APT 27C, AVENTURA FL 33180
Bobby Story	director, officer: Chief Financial Officer	14000 MILITARY TRAIL, SUITE 104, DELRAY BEACH FL 33484
Mark Eliot Kutner	director	13590 SW 134TH AVE #214, MIAMI FL 33186
Carl Christian Hoechner	director	13590 SW 134TH AVE #214, MIAMI FL 33186
Scott Howell	director	13590 SW 134TH AVE #214, MIAMI FL 33186
Christopher Perrucci	director	13590 SW 134TH AVE #214, MIAMI FL 33186
James Albert Wall	director	13590 SW 134TH AVE #214, MIAMI FL 33186

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