Commercial Funding, a national provider of invoice factoring and accounts receivable financing, has added asset-based loans to its funding solutions. Designed to meet the needs of small to mid-market sized businesses operating in the business-to-business space, Commercial Funding’s asset-based loans will typically range from $5,000 to $2.5 million.
“Asset based loans will provide additional funding solutions for our existing client base and will help us attract new clients,” James Baugh, SVP, said. “ABL is a great option for companies with a variety of asset types, including accounts receivable, inventory, equipment, and real estate and is often used when other sources of financing are not available. Companies face a multitude of challenges right now; supply chain issues, financing new growth opportunities, and a number of small to mid-sized banks exiting the ABL market. This opens opportunities for us to expand our services and help our clients meet their financing needs.”
“ABL is a natural complement to our existing line of invoice factoring and accounts receivable financing products,” Dan McDonough, company president and CEO, said. “Our organization’s financial strength coupled with our operating team’s knowledge and expertise allows us to deliver the funding options that best meet our clients’ objectives.”