Vendor Finance - The Process

Also read: Benefits | Mechanics | Criteria | Facilities

Before any funding can be offered the customer they must be financially underwritten. Usually it takes three working days but if there are special circumstances we will fast track the procedure and provide decisions within 24 hours in the case of smaller applications.

A financial underwriting decision is formed on past performance and any wider issues that could affect the customers trading in the future. We must receive a full proposal and up to date account information for each application applied.

Depending on how involved you wish to remain, your submission could be as little as a contact number and name or you may want to gather the full package for submission. Normally these things can be done over the phone or by fax or email, but if larger transactions are required a sit visit may be needed.

Quoting
By quoting a financial rental within the limits of your marketing process will often help to close a sale. As long you know how much the cost of the asset will be and have an idea of the customer’s credit worthiness and know which profile the client requires you should be able to work out the finance repayment. You can call us for a quotation or use the calculation tools that we have provided to work out the figures.

Proposal
The proposition provides the primary information to research and to process the application.
The core details will include:

Company Details; The name, Address, Contact Details and all bankers.
Goods Details: A Pro-forma Invoice a purchase order or similar.
Facility Details: the facility and profile that is agreed with the customer.
Director/ Shareholders Details: Net worth statements and personal information.
Background Information: Any trading activities, Marketplaces, etc.

Financial Information
The least that we require...

A recent audit account for the customer
The present current management information for the customer

We might also require...

Audited accounts for customers ‘group’ companies
Recent bank statements

Completion
We will let the customer and yourself know when an offer of funding has been made. Providing that the offer has been accepted, we will request an invoice from you and then complete the finance documents with the customer.
Full payment by cheque will be made to you immediately when the goods have been delivered.
For larger events we will arrange telegraphic transfers at a small cost.

Whats your next step:

You can either use our online enquiry form or
contact us direct for immediate human contact on 0800 0735353.
You are under no obligation and you pay no fees until the commercial finance product is arranged.