Because it’s our goal to provide financial assistance to as many small to medium-sized businesses as possible, The Commercial Finance Group offers several different ways for companies to maximize their working capital.
In a previous post, we took a look at some of the benefits offered by factoring, and in this post, we’ll continue the discussion with a look at asset-based lending for small business.
While the barriers to acceptance for asset-based lending might be a bit higher than factoring or other commercial loan solutions, there are several reasons to take advantage of these financing products should your business qualify for them.
1. Faster Approval
Small businesses that possess the types of assets accepted for asset-based lending typically find that the loan process moves fairly quickly. With the asset-based lending expertise of The Commercial Finance Group on your side, underwriting may be completed in a matter of weeks.
2. Fewer Restrictions
Businesses that quality for asset-based loans will also find that there are fewer restrictions placed on how they’re allowed to spend the money. While other financial institutions may require detailed information about where the money will go and why, asset-based loans only have to be used “for business purposes” in most situations.
3. Improved Liquidity
This is arguably the most important benefit to be gained from asset-based lending solutions. With the right asset-based loan in place, your business gains predictable cash flow and with it, financial stability.
Want to learn more about the asset-based lending solutions offered by The Commercial Finance Group? Contact our office today.
