Innovate UK PS17179 Loans Administration Service

Tender description

'*** 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.