Engs Commercial Finance debuts digital finance platform

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Engs Commercial Finance Co. has introduced Propel, a proprietary best-in-class digital finance platform.

According to Engs, Propel puts the power of finance into the hands of 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,” says 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.”

Engs says Propel will deliver 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

“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,” says Johanneson.

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