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Principles of Consolidation and Description of Business
6 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]  
Principles of Consolidation and Description of Business

1. Principles of Consolidation and Description of Business

 

Standard Premium Finance Holdings, Inc. (“SPFH” or the “Holding”) was incorporated on May 12, 2016, pursuant to the laws of the State of Florida.

Standard Premium Finance Management Corporation (“SPFMC” or the “subsidiary”) was incorporated on April 23, 1991, pursuant to the laws of the State of Florida, to engage principally in the insurance premium financing business. The Subsidiary is a licensed insurance premium finance company in twenty-nine states.

The accompanying consolidated financial statements include the accounts of SPFH and its wholly-owned subsidiary SPFMC. SPFH and its subsidiary are collectively referred to as “the Company”. All significant intercompany balances and transactions have been eliminated in consolidation.