First Index has announced that it has partnered with WHATRATE to provide asset finance solutions for its manufacturing users.

First Index, the world's most active marketplace forcustom-manufactured parts, announced today that it has partneredwith WHATRATE to provide asset finance solutions for itsmanufacturing users. With more than $10bn transactional valueposted through its online matching service, findFAST, First Indexhas more content and is more active in the custom-made partsengineering market than any other service provider. Its users aresubcontractors and buyers of engineered custom-made parts anddemand for finance in this sector is substantial.

In order toprovide users with a fast sourcing service for finance, FirstIndex has adopted the unique whatrate.vendor.

solution.Recognised as an established and trusted brand by the UK'sleading Lessors, Whatrate will build a First Index-brandedservice online, where users will be able to quickly sourcefinance for purchases of plant and equipment or to fund projects.The system provides instant answers from a selection of lenders,often more than the organisation would otherwise be able toaccess, in a fraction of the time normally taken to source andtalk to several finance houses.

To obtain quotes for finance,users simply enter some basic information about theirorganisation, the goods and amount to be financed.

An automaticcredit check is run and the result matched against the lendingterms of more than 15 leading UK lenders - whose criteria areconfigured into the system - and quotes returned instantly.

HansWigart, Managing Director of First Index, commented, 'Thisunique solution gives our customers and users the fast turnaroundon information they need.

When quoting on a large manufacturingproject, the knowledge that they can finance the equipment neededfor the job is all-important.

Not only can users access fastanswers on finance, they can also use the system to configure theterms most suited to their circumstances.' He continues,'We know from RFQ activity that the manufacturing sector isgrowing again - armed with this new service, hard-pressedmanufacturers can have the confidence they need to take on jobsand be part of that growth.' Roy A.

Royer, CEO of Whatrateadded, 'We're delighted to have partnered with FirstIndex - which we see as being an innovative leader in thecustom-made parts engineering market.

Whatrate.Vendor has beenspecifically developed so that businesses like First Index canseamlessly integrate our service into theirs with minimal set-upcosts.

Furthermore, because the service is fully managed andsupported by Whatrate, First Index can concentrate on its corecompetencies and we can concentrate on ours.

End result, FirstIndex can deliver great products at great prices, supported bythe best range of financing options on the market.' Usingthe First Index service is completely free and the system issecure and anonymous.

Users are not identified to potentiallenders until they have compared bids received and decided on anoption.

Manufacturers are thus able to take on a project,confident in the knowledge they have finance available but takeaction only when the deal is secure.