Using a tender panel approach to funding is a proven method of achieving the most competitive rates on an ongoing basis.
Once we are mandated to manage your asset finance programme we will approach several relevant parties that would fit well with what you are trying to achieve. This would involve seeking an overall credit limit and as far as possible keeping documentation in a standard format. Each time new assets or funding is required we will then approach each member of the panel and ask them to quote with their best rates.
In this way we look to keep things competitive which allows us to achieve the best finance available whilst maintaining good relationships with Lenders for our customers. Please see the below workflow for a more detailed look at how this works and could benefit your business.