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ENGS CF Releases PROPEL - A New Standard for Vendor Finance

April 21, 2020, 07:27 AM
Filed Under: Vendor Finance News

ENGS Commercial Finance Co. (ENGS), a subsidiary of Mitsubishi UFJ Lease and Finance announced today that it released PROPEL, a proprietary best-in-class digital finance platform that puts the power of finance into the hands of its vendors to enable them to control the structuring of a transaction to sell more equipment, more efficiently, in less time while promoting repeat business.

“We wanted to create a business intelligence equipment finance cloud-based platform that gives our vendor partners the control they desired. To empower real time customization to transaction structures, eliminating the back and forth between vendor, lender, and customer to create a more streamlined and efficient digital finance experience,” said Christopher Johanneson, Vice President of Digital Strategy, Marketing and Originations. “We developed an entirely new end-to-end digital transaction and portfolio management platform to better meet these needs. We used cutting-edge technology for speed, simplicity and real time data reporting.”

Johanneson continued, “Vendors are now able to tailor their transactions, create their own documents, manage their finance portfolio and communicate with the ENGS team all digitally through ENGS proprietary cloud-based platform, PROPEL.”

PROPEL delivers the following benefits to vendors:

  • Quick and easy credit application submission and decisioning
  • Self-service portal with instantaneous notice of status changes and updates
  • Customer contract documents on-demand
  • Real-Time reporting the customer loan/lease lifecycle for easy repeat business
  • Chat feature to quickly communicate with and send transaction documents to ENGS

Watch a PROPEL video here.

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