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You may have seen Ftrans and one of our client’s featured in the Wall Street Journal article, “Asset-Based Lending Grows in Popularity.” We’re happy to be associated with such success stories as Seth Chapman and Weezabi and know that many other businesses are benefiting from these types of services as the stigma of asset lending wears off (and the traditional credit markets remain dry). Asset based lending is no longer viewed as “lending of last resort.” As a matter of fact, it is increasingly becoming a preferred form of financing. As indicated in the article, asset based lending (excluding mortgages) grew by 8.3% in 2008
The data supports this trend. According to the FDIC, traditional, commercial lending is DOWN 14% Sept. 2009 over September 2008. Thus, we have every expectation to believe that asset lending will have grown significantly in 2009. When it comes to providing growth and working capital to small and medium businesses, asset based lending is carrying the day.
The moral of the story is two fold (1) Consider tapping your assets such as receivables for access to capital and (2)….. If you need a whole buch of creatively designed t-shirts, call Seth — He’ll take care of you.
Small Business Insights 