The Top Three Solutions We Give Our Customers Through Asset-Based Lending

*This post is from CMB partner Essex Lease. Visit them for flexible lending solutions.

Finding the right lending solutions is one of the principal challenges a business owner will face. When cash flow directly impacts your ability to leverage opportunities for growth or manage the unexpected, working with the right lending partner will ultimately play a significant role in the resilience and evolution of your business.

That’s why it’s so important to work with a lender who can think outside the box when it comes to tools like asset-based lending.

So, what is asset-based lending?

This type of financing model allows a business owner to leverage their equity in existing assets to provide working capital that can help them respond to opportunities or challenges with more flexibility.

At Essex, we regularly work with business owners to help them make the most of their lending options, so let’s take a look at the top three solutions we give our customers through asset-based lending.

1. Unlocking Working Capital

Many small to mid-size businesses struggle to access the working capital they need from banks. Whether due to limited or poor financial history, restrictive covenants, or non-qualifying Accounts Receivables, many traditional lenders simply can’t offer the flexibility business owners need.

If a business owns or has sufficient equity in assets such as equipment, asset-based lending can help consolidate current debt and advance additional cash to cover expenses like fuel, repairs or payroll. Whether done through tools like a Sale-Leaseback or an Equipment Note Loan, businesses can structure flexible terms that work for them.

2. Consolidating Payments

Managing debt is one of the most important steps a business can take. Many businesses have multiple equipment loans or leases on individual assets, sometimes with several different lenders at varying interest rates. Asset-based lending can help you combine all of your loans and leases into a single contract, often reducing monthly payments and the cost of borrowing while simplifying your bookkeeping.

3. Maintaining the Flexibility You Need

Cash flow problems are a common stumbling block for many business owners, but with asset-based lending, businesses can pursue a range of options to help overcome them. Ultimately, asset-based lending offers business owners a customized approach, not the one-size-fits-all solution you get with a bank.

Whether you need to raise capital for growth or restructure existing financing, Essex Lease Financial can work with you to find asset-based lending solutions for your biggest business challenges.

If you want to work with the experts who specialize in flexible solutions, Essex Lease, contact us today to get started!