ENGS Commercial Finance Co., (“ENGS”), a member of Mitsubishi HC Capital Group (“MHC”), is pleased to announce that ENGS will be making a change to its Application-Only threshold and will be able to approve exposures on an App-Only basis up to $1,000,000 for qualified credits.
John Carroll, Chief Risk Officer at ENGS Commercial Finance Co., commented, “This is a very exciting development for our business. This change to the App-Only threshold is not a loosening of credit, but rather a different way to maintain our credit standards while being more flexible and responsive to our vendors.” Carroll continued, “Through leveraging ENGS’s rich database and expert third party data sources, which are the backbone of the proprietary ENGS credit scoring model, ENGS has achieved a sustainable level of overall portfolio health that allows us to confidently increase the App-Only threshold.”
ENGS businesses and processes are consistently pursuing and leveraging FINTECH as a strategic initiative to deliver a state-of-the-art experience for our vendors partners and employees. This success has achieved significant milestones in ENGS’s product offerings through the development and deployment of our digitization roadmap.
“The coordination with the credit and risk team of identifying and implementing digital tools and data sources has enhanced our platform enabling better informed credit decisions and delivering higher service levels to our vendors,” Christopher D. Johanneson, Managing Director of Operations, Marketing and Digital Strategy of ENGS, said.
For more information on this press release, please visit our website at www.engsfinance.com or call us at (800) 369-2391.