How Ace Biz Funding’ Asset Based Loan Can Optimize Your Company’s Growth
In today’s conservative lending environment, finding the right loan can become a long and tedious endeavor.
Asset based loans are accounts receivables and inventory used as loan collateral. By putting your future revenue on the line to gain monetary capital immediately, there are a lot of things to consider before tying yourself down to a binding loan.
Many confuse this form of lending with factoring. Although asset based lending and factoring provide the same benefits, they differ greatly. Both loan programs use accounts receivables as collateral, however, with factoring the company does not borrow monetary capital. Instead, receivables are sold in order to improve cash flow.
Ace Biz Funding Asset Based Loans program is for the larger established companies.
The asset based loan at Ace Biz Funding offers an easy application process taking approximately five minutes to complete with same day approval. Whereas traditional lending institutes can take two weeks or longer.
The Ace Biz Funding’ Asset Based Loan, when compared to banks and other lenders, offers aggressive advanced rates with 15% – 20% extra availability to clients that make a significant difference in regards to collateral. The asset based loan at Ace Biz Funding also offers lending on machinery and equipment.
The Ace Biz Funding’ asset based loan advanced rate is coupled with advanced rate on inventory optimizing the ideal credit line that maximizes the client’s access to working capital. As the client’s inventory and/or receivables grow, the asset based loan’s credit line continues to grow as well, which is perfect for high growth companies.
Going through a direct funding institute like Ace Biz Funding makes finding an adequate asset based loan easier than ever. This loan program is an ideal loan with annual interest rates starting as low as 4% per year. Ace Biz Funding asset based loan offers very low rates and the highest advanced rate in the industry. This makes it the ideal option for your lower middle market company.
The upside of asset based loans is that a rapidly growing business can acquire much needed capital within a short time period. It is typical for a growing company to run into a financial hurdle, where immediate funding is necessary to prevent growth from stalling.
With experience in many markets, Ace Biz Funding has recently funded an oil and gas company, pet medications distributor, water treatment services, and oil and gas chemical companies. Several midsized and larger established companies may find asset based lending beneficial. Companies such as manufacturers, wholesalers, distributors, service companies, and retailers can benefit from the flexibility and versatility of ABL loan programs.