Asset based lending is a unique funding option that has become increasingly popular for businesses. If you need funding, but a term business loan or business line of credit is not something your business wants to explore, asset based lending may be a great option that you have not yet thought of. At Fast and Easy Funds, our asset based lending program will help your company obtain the working capital it needs to continue to grow and succeed.
So what exactly is asset based lending? It is a type of loan that allows companies to use their existing assets as collateral. Assets like machinery, real estate, and inventory can all be used as collateral. The loan is typically used for things like: operational costs, hiring staff, marketing, and repairs to equipment or machinery to sustain the business.
Asset based lending is a great option for many business. At Fast and Easy Funds, our application and qualification process is painless. If your business has assets, you are likely a good candidate. While traditional banks and typical lenders do not offer more than roughly 40 or 50 percent, Fast and Easy Funds has arranged plenty of advances at around 65 percent. That can end up being a huge difference for your bottom line.
It is our priority to maximize your business’ access to working capital. As your receivables or inventory level rises, so can your asset based credit lines. This is great news for companies who do not want their lines of credit capped, which often happens when working with traditional lenders. It is also important to note that asset based lending offers more flexibility than many traditional business loans. Companies can use asset based lending for almost any business reason.
If you are interested in asset based lending for your company, you will have to decide if you are a good candidate. The most important factor for you to determine is if your business has valuable assets that can be used as collateral. If so, then your company should also be an established business, not a startup, which would not likely have valuable assets. It should have financial statements and good invoicing practices as well.
Once you have determined that your business is a good candidate, contact Fast and Easy Funds. Our team has more than 70 years of combined experience. We are a BBB “A” Rated company that makes it our mission to provide working capital for businesses. Start our easy application today, and you can be approved for asset based lending in just a few days!