Cloud Lending Solutions launched CL Lease, an end-to-end, cloud-based asset leasing solution that enables efficient servicing and asset management for institutional, independent and captive lessors.

CL Lease, which utilizes the SalesForce platform, provides lessors with a fully integrated leasing solution that shortens time-to-market on product offerings and enables lower operating costs.

“The leasing industry is growing at a rapid pace and traditional lessors have not been able to keep up with demand. We are the next generation technology platform that the leasing industry has been waiting for,” said Snehal Fulzele, CEO of Cloud Lending Solutions. “CL Lease allows lessors to stay nimble and delight borrowers while offering a comprehensive view into their business operations and systems. Lessors can now easily scale and grow their business to remain competitive in a dynamic market.”

CL Lease’s end-to-end solution provides a single system of record that automates the lifecycle of a lease. CL Lease is specifically designed for lessors and delivers a less costly alternative to legacy technology or manual processes, and offers the security and compliance capabilities of the Salesforce cloud platform. The program also offers easy originations, fully automated billing, payments and application of fees, the ability to track and manage assets throughout the lifecycle of a lease and a minimization of collection risks.

CL Lease is a modular platform that can be integrated directly with an existing origination platform or can work seamlessly with CL Originate, an origination and underwriting platform that manages loans, leases, lines of credit and other financing arrangements. The program currently has three clients, including forklift lessor Material Handling Services.

Cloud Lending Solutions is a cloud-based, end-to-end lending platform delivering innovation to the global lending community, with roughly 50% of its business in the U.S.