Just like humans, every business is unique. The challenges and successes that your business experiences may be very different from those experienced by another company, even one that’s in the same industry or community.
As Atlanta’s trusted provider of asset-based lending solutions, we’re often approached by businesses facing a challenge or opportunity that requires financing, but they’re not exactly sure which type is best.
Here are just a few of the situations in which asset-based loans makes perfect sense for the present needs of your small to medium-sized company.
Growth
You’ve survived the terrifying “first year of business” and now you’re actually in a place where additions to your staff are sorely needed. Now that you have additional sources of strong collateral under your belt (in the form of inventory, equipment, and possibly even real estate), asset-based lending is your opportunity to expand.
Buying Out A Competitor
When your growth gets to a place where you’re ready to start a) diversifying your portfolio of business holdings or b) eliminating the competition from your industry completely, asset-based lending can be a huge advantage. With this financing option on your side, you’ll only have to sacrifice the minimum amount of equity needed to purchase a controlling percentage in another company’s stock.
We’ll continue this discussion of situations in which asset-based lending is a smart financing solution in future blogs.
For now, be sure to contact The Commercial Finance Group to learn more about how we can provide the asset-based lending solutions you need.
