Asset-Based Finance

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Asset-Based Finance

The practice of making a loan secured by an asset. While, in theory, many loans are asset-based mortgages, the term most commonly applies to loans secured by something unusual, such as accounts receivable or intellectual property. Businesses take out most asset-based loans and pledge something used in the conduct of their businesses as collateral, such as inventory. As with all secured loans, asset-based loans have lower interest rates than unsecured loans. The practice is also called asset-based lending.
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Banking & finance 1 DLA Piper UK LLP Birmingham Eversheds Sutherland (Int) LLP Birmingham Pinsent Masons LLP Birmingham 2 Gateley Plc Birmingham Gowling WLG Birmingham 3 Browne Jacobson LLP B'ham Irwin Mitchell Birmingham Shakespeare Martineau LLP B'ham Shoosmiths LLP Birmingham Squire Patton Boggs Birmingham 4 DWF Birmingham Mills & Reeve LLP Birmingham 5 Aaron & Partners LLP Shrewsbury Brethertons LLP Rugby George Green LLP Wolverhampton Wright Hassall LLP Leamington Spa AT DLA Piper UK LLP, Birmingham head of finance Stephen Bottley advises international banks and major UK banks on leveraged finance, corporate finance and asset-based lending and, in 2016, he continued to be active in a variety of major cross-border deals for both lenders and borrowers.
White Oak Commercial Finance Llc (WOCF), an affiliate of White Oak Global Advisors Llc and its institutional clients, has said that it has strengthened its asset-based lending team with the appointment of Mignon Winston as senior vice president.
Wells Fargo & Company (NYSE:WFC) disclosed on Friday that David Marks takes over as head of Wells Fargo Capital Finance, the bank's asset-based lending unit.
Wells Fargo & Company (NYSE: WFC) has named David Marks to lead Wells Fargo Capital Finance, the bank's asset-based lending unit, the company said.
Investors Bank announced the joining of Sam Cirelli as vice president and business development executive of the Asset-Based Lending Group.
In a UK-wide survey of 2,000 SMEs, including over 103 from across Wales, Lloyds TSB Commercial Finance questioned firms about their understanding and awareness of a range of sources of finance including overdrafts, Governmentbacked schemes like Funding for Lending and asset-based finance products such as factoring, invoice discounting and asset-based lending.
A new president has been appointed for Bank of America Business Capital, the asset-based lending arm Bank of America Corp (NYSE: BAC).
Belgian financial services group KBC (EBR:KBC) announced today an agreement to sell its British asset-based lending unit KBC Business Capital to US PNC Financial Services Group (NYSE:PNC).
As its name implies, asset-based lending focuses more on collateral asset values for structuring loan availability, flexibility and even financing creativity for middle-market companies that historically relied on more traditional commercial bank financing.
The key aspects of the proposal were: (1) to raise the small-bank asset threshold from $250 million to $500 million thereby allowing more banks to benefit from streamlined CRA evaluations; and (2) to allow examiners to reduce a depository institution's CRA rating if the institution engaged in a pattern or practice of abusive asset-based lending.
In this environment, corporate finance and accounting professionals can help their companies identify an alternative money supply source: asset-based lending.