Asset-Based Loans Now Preferred Alternative for Small Business Financing
As small businesses desperately struggle to obtain working capital for their businesses, they need to look outside the bankable box. There is money available, as long as you are willing to look outside the normal lending parameters.
Asset-based lending (ABL) now a preferred alternative (NOT a last resort when banks say 'No'.) for small business financing. ABL is not your grandmother's factoring anymore -- it's a modern, competitively priced product.
Businesses looking for financing solutions need a better understanding of the alternative financing landscape -- there is a whole range of products out there.
You can often get more cash for the same assets (or a variety of assets that the bank doesn't favor), and sometimes you can pay the same or less (depending on your credit risk profile) than a traditional bank.
Asset-based lending is not a last resort for when banks say, 'No.' ABL is a smart funding alternative, and it's growing and often becoming a preferred alternative to banks.