A website that lists non-traditional commercial lenders is allowing entrepreneurs who are forming an LLC in Texas, New York, California or Arizona to acquire capital for a new venture or to expand business operations.
The new website''s owner, Mike Lieber, has 13 years of experience in the field and says that asset-based financing - or the use of property, equipment or inventory as collateral - is increasingly an attractive option for business owners who are being denied loans from traditional banks.
"The ongoing recession and tight credit conditions put asset-based finance on the radar of business owners and finance professionals across all industries who know about it," said Lieber.
Smart-business-financing.com lists the lenders and their requirements, and allows borrowers to search for satisfactory loan terms. Many industrial and manufacturing companies, such as automobile suppliers, metal manufacturers and consumer electronics retailers, are ideal candidates for asset-based financing because of their significant investment in inventory.
The interest in asset-based financing is growing with limited traditional options. The Commercial Finance Association reported that new credit lines extended through asset-based financing increased 49 percent in the second quarter of 2010.
Tags : az, c corp, ca, financial management, llc, lp, ny, s corp, small business management, tx
Posted: Aug 30th, 2010