Daily News: July 9, 2013

Savile Finance Implements Bayside’s CADENCE

Savile Finance Group, an international commercial lending company, and Bayside Business Solutions announced that Savile successfully implemented Bayside’s CADENCE | Live platform for ABL and ClientWeb to administer its business-to-business lending.

CADENCE for ABL (asset-based lending) enables lenders to administer a variety of loan products — including traditional financing, revolving lines of credit, term loans and borrowing base — in a single system without having to manage them in the same way. Each asset class is treated in a distinct manner. CADENCE | Live delivers the CADENCE platform in a secure, hosted environment.

Savile also installed Bayside’s ClientWeb Interface, which allows Savile’s customers to log into their account 24 hours a day for real time account status when convenient for them. ClientWeb also provides the ability for customers to submit information back to Savile for efficient communications.

“CADENCE has become an important part of our credit and operational infrastructure and is a key tool for managing risk and exposure in multi-jurisdictional, multi-asset portfolio. We look forward to a productive long-term relationship with the Bayside team,” said David Chu, chief financial officer, Savile Finance Group.

“We are delighted to have Savile Financial Group join the ranks of our ever-growing asset-based lending customer base and welcome them to the Bayside family,” commented Marvin McConaghy, Bayside’s VP of Business Development.

Savile Finance Group operates a direct investment lending program, structuring senior secured asset-backed facilities for small and medium companies in the United States, Latin America, and Caribbean.

Bayside Business Solutions is a supplier of portfolio management software to the global commercial lending industry.