Forum recognizes that conventional tooling can be a significant but much needed expense that can help to ensure product consistency and high-volume incremental cost benefits. Often times, this comes during times when capital liquidity is most critical and when limited resource availability can cause project launch delays or scope limitations.
Forum believes that partnership should provide ways to support each other throughout the project lifecycle, with the goal of offering support in opportunities to bring new or next generational lifesaving and life-enhancing projects to market.
Given this, Forum has created a Tooling Finance Program to help alleviate some of the up-front cost burden and create a longer runway to help support bringing these products to market.
General Program Scope:
- Financing calculations are based upon a down payment and monthly payment terms.
- Forum will finance 60% to 80% of the tooling cost.
- Financing options available for up to a 5-year term.
- No pre-payment penalties are imposed for early loan payoff completion.
- Client completion of Forum Financing Application to include financial references.
- Following the Company’s review and approval of the application, credit status and references, Forum will provide financial terms and the approved loan value to the client for approval and agreement execution.
- Typical loan evaluation and approval lead times are approximately two (2) weeks from the completion and submission of the application.
Customer Benefits Include:
- Optimizes corporate cash utilization.
- Expediates revenue achievement through quicker commercial recognition.
- Provides a pathway to access validated products manufactured on production scale tooling.
- Provides immediate access to ISO 13485:2016 certified program management, quality, and technical capabilities.
- Most significantly, helps to get critical life-saving or quality of life enhancing products to market faster while still maintaining the highest levels of quality, technical expertise, customer service, and partnership.