UK-based Propel launches new online asset finance portal – Propeller

By Megha Bhattacharya

UK-based independent finance house Propel has announced the launch of its new online asset finance portal Propeller. The new portal is expected to boost vendors’ sales and enhance customer finance journey. The Propeller portal aims to streamline end-to-end vendor finance process with the provision of automated processing, instant quotes, immediate auto-decisions, document generation e-sign acceptance and real-time management.

“At Propel, we are determined to transform SMEs’ access to much-needed funding for capital investment. Propeller is our most advanced, integrated and comprehensive vendor finance system to date and represents a leap forward in respect of the enhanced user experience, connectivity and functionality it brings. Through innovations such as this, together with a brilliant service, we are shaping the future of finance partnerships” said Mark Catton, Propel CEO.

According to Propel, the portal aims to reduce the time spent on finance paperwork and enable vendors to drive sales while providing customers with access to business-critical equipment.

Recently, Barclays Business Banking announced a partnership with Propel to offer equipment and vehicle finance via an online platform to one million of their small and medium-sized (SME) customers. The Bank’s network of relationship managers will connect directly to Propel’s online portal, Propeller, thus allowing businesses to make equipment purchases up to £2 million.

James Taylor MD of Ice Communications said, “Propel’s new asset finance portal not only gives you easy online access and heaps of support, it really does help you process faster sales. It’s fantastic to work with a company that continually think of innovative solutions for its vendor partners. Propeller allows us to do business quickly and efficiently so we can focus more on productivity and performance.”