$25 MILLION IN ASSET-BASED FACILITIES IN MARCH 2012
April 25, 2012
For Immediate Release
– April 25, 2012 – Capital Business Credit LLC (CBC) (www.capitalbusinesscredit.com),
a vertically integrated financial products and services company, funded three asset-based facilities, totaling $25 million, in March 2012.
CBC’s Chief Executive Officer and President Marc Adelson joined the firm approximately one year ago, bringing more than 30 years of asset-based lending (ABL) experience. Over the last 13 months, under Mr. Adelson’s leadership,
CBC has deepened its capabilities, increased its bank lines and significantly grown in the ABL lending space due to its streamlined approach to approving and funding loans. CBC’s credit approval committee is structured to execute deals between $1 million and $10 million quickly and bypasses the layers of mid-level management approvals most financing companies utilize.
“At CBC, we have the unique luxury of being able to look at every company from an enterprise point of view – rather than just the numbers on their balance sheet – to determine the right type of financing to meet their business needs,” said Marc Adelson.
He continued, “As an unregulated commercial finance company, we don’t have the strict lending requirements that others in the marketplace do, and we can provide quick and reliable access to capital. More importantly, we can offer our clients the right credit product to fit their specific needs, whether it is an asset-based loan, factoring or trade finance.”
Asset-based loans are increasingly being sought after by middle market companies as a capital source because traditional banks are still not lending to companies of a certain size. According to recently published reports, $19 billion in asset-based loans were issued in Q1 2012 and a whopping $101.17 billion in asset-based loans were issued in 2011.
“Over the past 12 months, we’ve seen a significant uptick in asset-based facilities in our size range and expect to see a continued increase as the economy improves and middle market companies look to refinance, finance growth, as well as conduct a merger or acquisition. Frequently, we’re being asked to provide a multitude of product solutions for a single borrower,” concluded Adelson.
About Capital Business Credit
Established in 1988, Capital Business Credit LLC(http://www.capitalbusinesscredit.com/)
is a commercial finance company specializing in providing creative supply chain financing solutions. The Company’s service offerings include: full service factoring; immediate cash for receivables; single debtor credit coverage;letters of credit; accounts receivable management services; inventory lending; asset-based lending; and international financing. Capital Business Credit is based in New York, with offices in Hong Kong; Los Angeles; Charlotte, NC; and Ft. Lauderdale, FL.
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