By Lou Wallace
Where to find working capital is a problem that plagues all business owners. Whether to seek an “Angel” Investor or find a commercial small business loans through an Asset Based Lender or traditional banking source. The difference is dramatic. Read the rest of this entry »
By Lou Wallace
One of the largest differences between Asset Based lenders and Banks is the use of credit scoring. Banks credit score everything they do when it comes to granting credit. Bank loan officers must determine by credit score whether they will take the next steps to look at an extension of credit for a company. If a company or its owner does not score within the range established by the Banks loan policies the business loan is rejected. Read the rest of this entry »
By Lou Wallace
Asset Based lenders supply the same type of loans as conventional banks plus they also can be more flexible in there under writing because of the other loan products. Besides lines of credit, asset based lenders offer factoring and purchase order financing. Some also offer term loans, equipment financing and leasing, as well as short term capital loans to meet short term cash needs. Read the rest of this entry »