Asset Based Lending ("ABL") has been a staple form of debt placement for small to medium-sized businesses for over a half a century. Asset-based lending is a business loan secured by collateral (assets). The loan, or line of credit, is secured by inventory, accounts receivable and/or other balance-sheet assets. Also known as "commercial finance" or "asset-based financing".
Ascend has developed partners in each area of balance sheet assets and these lenders vary from traditional rates to high rates for stressed companies, including Debtor in Possession situations.
While these loan approvals move slower than Hard Money placements, the speed can be as quick as two to three weeks from application to funding. Some of the assets we can borrow against:
- Accounts Receivable
- Inventory
- Purchase Orders
- Contracts
- Equipment
- Real Estate
