This past week, I joined the asset based lending team at California Bank & Trust, an $11 billion commercial bank serving the needs of businesses throughout the state of California.The Asset Based Lending Division offers revolving lines of credit secured by accounts receivable and inventory, a growing source of funding during the recent economic downturn as described in CFO Magazine's recent article, Lien on Me. These asset based financings have the flexibility to help even highly leveraged firms and those who may have struggled in the last 24 months. The interest rates will be lower than those offered by commercial finance companies and factoring companies.
Why did I make the move after seven years as a matchmaker for business loans?
In my opinion, bank lending is about to pick up significantly in the next six months. Political, populist and shareholder pressures combined with economic recovery will motivate banks to open the credit spigots to business borrowers by the second half of 2010. If the banks make a strong move to provide credit, I believe I'll be a much better resource to businesses by actually working for the funding source.
California Bank & Trust is a fiscally sound bank - the FDIC facilitated the acquisition by California Bank & Trust of two other California banks in the last 18 months or so. A good sign in my books. They are small and nimble enough to act quickly on deals and provide personalized service. Well capitalized enough to have a very competitive cost of funds. Big enough to provide credit facilities in excess of $10 million.
If you need help with an asset based loan of $1-10 million for your California business, give me a call at 213-593-2086!
Tags : California Bank & Trust , asset based lending , accounts receivable financing
In my opinion, bank lending is about to pick up significantly in the next six months. Political, populist and shareholder pressures combined with economic recovery will motivate banks to open the credit spigots to business borrowers by the second half of 2010. If the banks make a strong move to provide credit, I believe I'll be a much better resource to businesses by actually working for the funding source.
California Bank & Trust is a fiscally sound bank - the FDIC facilitated the acquisition by California Bank & Trust of two other California banks in the last 18 months or so. A good sign in my books. They are small and nimble enough to act quickly on deals and provide personalized service. Well capitalized enough to have a very competitive cost of funds. Big enough to provide credit facilities in excess of $10 million.
If you need help with an asset based loan of $1-10 million for your California business, give me a call at 213-593-2086!
Tags : California Bank & Trust , asset based lending , accounts receivable financing
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