Published Date: 4 April 2018
Tender Status: unsuccessful
Tender Opening Date: n/a
Tender Closing Date: 18 October 2017
Award Date: n/a
Contract Start Date: n/a
Contract End Date: n/a
Contract is suitable for SMEs: Yes
Contract is suitable for VCSEs: Yes
Official Journal of the European Union (OJEU) Contract Type: Services
'*** This tender requirement was abandoned prior to a Contract award decision. ***'
*Please do not respond directly to the buyer. All communications and bids should be submitted through the CCS E-Sourcing portal*
Innovate UK is seeking to procure a loan administrator to provide white label services to support the backend delivery of its new Innovation Loans programme during the pilot deployment phase (24 months from 1 April 2018). The programme is expected to deliver up to £50m lending to around 100-200 innovative UK businesses in this period.
The aim of the procurement is to:
• Procure the delivery of reliable and responsive loan administration;
• Ensure sufficient resource is dedicated to the administration of Innovation Loans in the pilot period
Innovation Loans expects to make the first loan commitments in February/March 2018 in advance of first drawdowns after 1 April 2018.
In advance of this, the Lending Administrator will be expected to:
• Negotiate contractual arrangements and establish SLAs;
• Support the development of processes that ensure the proper management and protection of public money; and
• Establish systems and processes (tested in BETA) ahead of go-live (1st April 2018)
• Administration to facilitate the issuing of loans (Phase One: 1st April 2018 to 30th April 2020)
• Administration for the collection of repayments on loans (Phase two: 1st May 2020 to 30th April 2020
The Requirement:
Innovate UK is seeking to appoint a Loan Administrator to support the deployment period of its Innovation Loans pilot. Proposals are invited from institutions that can demonstrate:
• The ability to administer a portfolio of loans on behalf of a third party;
• All appropriate regulatory approvals for administering a third-party portfolio (off balance sheet);
• Suitable and established systems for making and recovering loans, fees and interest and for reconciling payments received; and
• The ability to generate and securely maintain and share current portfolio data with Innovate UK on portfolio performance at regular intervals and/or in response to ad hoc requests
Providers able to provide a secure, shared environment that allows for live (or overnight) updating of loan performance, accessible by the Innovation Loans team, are also likely to be welcomed.
Contact name: n/a
Address: Polaris House
Swindon
SN2 1FF
England
Telephone: n/a
Fax: n/a
Email: [email protected]
Price Range: £100,000
