WHAT IS “ASSET BASED LENDING”?
Asset Based Lending generally refers to providing a line of credit that is secured by accounts receivable, inventory or equipment. The availability on the line of credit is determined by these assets.
HOW DOES IT WORK?
With an Asset Based Line of Credit, you can borrow money in an amount that is determined by a Borrowing Base Certificate, or BBC. You would complete a BBC periodically (generally monthly) that will show how much you currently have in accounts receivable and possibly inventory and/or equipment. We allow you to borrow 80% to 90% of your outstanding A/R and possibly an additional amount against your inventory and/or equipment.
HOW CAN WE HELP?
We can help you sleep better. We can provide you with the capital you need to manage and grow your business. Without enough funding, you may be restricting your company’s ability to grow. It is very important to make sure that you keep vendors current, have funds to make payroll and maintain adequate inventory. Primary Funding provides Asset Based Lines that are based on your accounts receivable, inventory and equipment. You can sleep better at night knowing that you have access to the funds you need.
WHO CAN WE HELP?
Have you tried to get a traditional line of credit with a bank, only to be denied? Primary Funding is here to help. We can provide working capital lines of credit up to $1,000,000 for companies from start-up to $20,000,000 in annual revenue. We will work with you to understand your needs and to find a solution for you and your business. We can help companies in most industries as we will look at your individual circumstances and try to find a solution for you.
WHAT CAN WE DO?
- Non-notification (your customers can still send payment to you)
- Cash is made available based on your outstanding receivables and other assets
- Advance rates up to 90% of your A/R
- Inventory and equipment advances available
- Pre-screen credit for your customers
- At your choice, we can provide ongoing credit management and professional collection services so you can focus on your business
- Funding in just a few days
Give us a call to discuss your individual situation and see how we can help.
