As part of this
launch, we are enhancing features to our
lease products that will better serve our customers. The new enhancements will be outlined in our updated
manual that will simultaneously be launched with the 2006 rate card and posted
to our web site on January 1, 2006
The
new rate card and enhancements were based on listening to the needs of our
customers. David Nickel, President and CEO said “We are always actively working with our customers to gain a better understanding
of their business challenges in their dynamic markets. We will continue to
focus on listening to our customers’ challenges and designing solutions based
on their needs. We are excited to be launching the first of our series of new 2006
initiatives that we believe will make a big difference to our customers”.
The
new rate card will be based on three distinct credit categories.
-
Tier 1- “A” or “Prime”;
-
Tier 2 - Near “A”,
“Non-Prime” or “Near Prime”;
-
Tier 3- “B”, “Sub-Prime”,
“Non-Conventional”.
The new rate card will include details of the credit
criteria applicable for each tier. This will provide our partners with guidelines
on using the rate card as well as some insight on how we price for risk.
As a leader in the market, Aureus will continue not to
credit score any transaction. Our credit decisions will as always be on a
common sense approach. Jeff Short, our Senior Credit Manager said “Our credit philosophy will not change in that
we do not credit score our transactions. We are approachable and open to all
ideas in structuring transactions. Our credit teams’ core strength is our
flexibility to provide creative financing solutions for customers. We will
continue to do so and think outside the box”.
In some cases when developing creative and viable financing
solutions, Aureus will need to present terms outside the rates stated in the
new rate card. Aureus is a price to risk financing company that believes in building
win-win financing solutions for all parties.
To coincide with the launch of the new rate card, an updated
manual will be posted to the web site. This is an important reference document
as well as a communication tool on how Aureus conducts business. The new manual
will document all the enhancements to our product offerings for 2006. It is
imperative that our partners read the manual to learn about all the new amendments.
We are confident that the new rate card and product enhancements
will provide a great boost to your business for 2006.
We strongly encourage you to regularly visit our “
What’s
New” section on our web site. We will post new initiatives and update you on
new developments at Aureus.
If you are an existing partner and unable to access the restricted
areas of our web site or if you wish to learn more about becoming a partner, please
contact Harj Sandhu, V.P. Business Development by calling 905-997-0452 or by
email at
hsandhu@aureus.ca
