Lending technology provider Quotevine has launched a new service for asset finance brokers, to help them deliver much-needed funds to small- and medium-sized enterprises impacted by Covid-19.
The firm, which provides software-as-a service solutions to asset, motor and consumer finance companies, believes banks have been too slow in providing funds under government-backed emergency measures. It argues that asset finance companies are ideally placed to fill the funding gap, which is life-threatening for many smaller firms.
Its new Quickstart package offers brokers core licenses, online proposals, e-signature capability, the ability to create own-branded PDF quotations, and a pricing and payment calculation engine, to speed up the process.
“This new Quickstart package was borne out of our desire to help fuel the British economy at this historically challenging time,” said Jeremy Wright, sales and client success manager for Quotevine.
“While we very much understand the pressures they’ve faced amidst Covid-19, banks aren’t adequately equipped to deal with such a large volume of applications in such a short period of time, and they are up against an unprecedented situation of the utmost urgency.
“It is vital that fast, efficient access to loans is made available to all at this time.
“The asset finance firms and brokers we serve are, by contrast, ideally placed to step in and help clear the backlog and get vital funds out to SMEs without delay.
“They are smaller and more nimble, with a propensity towards problem-solving and a good understanding of the needs of businesses.
“However, in order to seize what we believe is a historic opportunity, they need the right and most innovative tools, to enable them to work quickly and efficiently while managing risk.”