5 tips to reduce turnaround times powered by Pepper
Many asset finance brokers are experiencing extended turnaround times due to changing policies, new digital processes and record daily volumes. Pepper have provided 5 tips to help reduce resubmissions of loan applications for faster turnaround times.
- Commercial fast track deals – include commentary around the nature of the business, ABN continuity if applicable, reason for acquisition and confirmation the client is not currently under hardship with current creditors.
- Trusts – upload a copy of the Trust Deed at the time of submission.
- Consumer deals – attach payslips before submitting the application and make a note in the general comments section that they are uploaded.
- Year model – ensure you enter the “build date” (not the compliance date).
- A&L - provide full asset and liability position of the applicant, inclusive of the name of financial institutions.
Brent Starrenburg, Connective Head of Asset Finance advises ‘understanding lender policies and ensuring that you have collected the information upfront will give you the best possible chance of getting a deal through smoothly and quickly.'
If you are unsure or have any questions in relation to any of the lenders on the panel, please contact your local CAF Business Development Manager.