Use your Business Assets to Secure the Funding you need

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An Asset-based loan is a way for small businesses to secure financing from lenders by using their companies' assets as collateral such as invoices, inventory, equipment, machinery, or commercial property. Accounts receivable financing & factoring are some of the most common types of small business asset based lending. Accounts receivable is used as collateral in the former while AR is sold to a third party for a discounted price in the latter type of financing. ABL works like a revolving loan meaning it's accessible when you need it & you can pay it down whenever you choose.

Cost

Based on the current APR, which ranges between 7% to 17%

Interest Rate

Based on the type of asset available as collateral, the level of risk & the financial performance of your business

Loan Amount

75%-85% of AR value or 50% of inventory/ equipment value

Security

The asset serves as collateral

Funding Time

As fast as 48 business hours

Why go through Smansha for Asset-based lending?

Our Asset-based loan structure allows you to secure funding to meet your business' unique financial need without any credit checks & only your asset is used to get the amount. Our innovative & secure small business lending platform helps you compare interest rates, terms, and payments for a variety of ABL lending options & get quick approval within 24- 48 business hours.


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Why you should choose an Asset Based Financing?

Easy & Quick to Obtain These loans include less documentation & quick processing than many of its counterparts like unsecured loans & line of credit.

More Flexible than Loans ABLs are extremely flexible when it comes to how you spend it. There are no restrictions attached, like other loan forms.

Lower Rate of Interest Asset-based loans generally come with lower interest rates than many of its counterparts.

No Need of Perfect Credit Asset-based lenders are less worried about your business' previous cash flow, profitability, or even your personal or business credit & revenue history. Generally, these loans are secured against the value of your assets.

Less Personal Risk You don't require signing a personal guarantee or putting up collateral, like a family home or car in ABL loans. Since some specific assets from your business' balance sheet are used as collateral by the lenders, there's less personal risk involved.

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FAQs

You can use this funding for:
• Working capital to keep business activities running (most common use of ABL)
• Maximizing growth opportunities
• Managing a successful turnaround
• Acquisition, merging, or buyout
• Refinancing existing debt to improve cash flow
• Funding a large contract
• International expansion

Following are the most common required documents:
• Profit & Loss Statement
• Business Tax Returns
• Aging Report
• Balance Sheet
• Inventory Report
• Business Tax Returns
• Business Bank Statements

With this type of lending, an asset-based lender offers small business owners an advance of capital on the market value of their secured assets. The loan amount often depends on the type of asset you’re using as collateral. For example, you can usually secure a 50% loan amount of your equipment and inventory as these assets can’t be easily liquidated and their values often decrease over time. Meanwhile, there are chances of borrowing 80% to 90% of the value of your accounts receivables since their values won’t change with time.

Any fixed assets can be used to secure an asset-based loan. This collateral could be in the form of real estate, equipment, inventory, company vehicle or even accounts receivable.

Asset-based lending & factoring are sometimes confused as the same. The major difference is that you sell your assets to a lender in factoring while you borrow against them in asset-based lending. Factoring can only use account receivables as collateral while it extends to other assets like real estate, machinery, equipment, and raw materials in asset-based loans.

Asset-based might be a great financing solution for all the companies that are experiencing seasonal lulls, seeking additional funds, or have an inconsistent marginal cash flow. From government services to manufacturing companies, food & retail, real estate, technology, transportation & logistics, distribution, and many more, there is a plethora of companies that are good candidates for asset-based loans.

Asset-based loans can provide numerous cash flow and working capital solutions for small and medium-sized businesses. If you’ve been facing difficulty getting approved for a business loan from traditional lenders, an asset-based loan can be a lifesaver for you. It’s easy, quick, and provides funds for a variety of business purposes. Since these loans primarily use specific assets as collateral, they’ll typically pose fewer documentations and paperwork. Moreover, since asset-based loans are less concerned with your personal or business credit scores, revenue, or past cash flow – they might be a great financing option for aspiring entrepreneurs and small business owners with poor credit.

Applying for an asset-based loan with Smansha is a quick and easy process! Sign up at Smansha and apply for financing at our innovative lending platform in few minutes. Once approved, you will receive funds in 4-7 business days.
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