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Greenwich, CT start ups are known for their lean business models and robust strategies. Start ups, like any other local business, also need financing. With the current challenges Greenwich start ups face in qualifying for loans and other financing plans, many are turning to asset based lending.
How Asset Based Lending Works For Greenwich, CT Start Ups
Instead of dealing with the rejection from prohibitively high bank requirements, and the long processing time for loans, asset based lending offers a faster and friendlier option. Greenwich, CT start ups can leverage the value of their fixed assets to create a revolving line of credit. Asset based lending provides Greenwich, Connecticut start ups with a renewable source of working capital without placing any debt on the balance sheets.
What Are Fixed Assets?
In the case of asset based lending, fixed assets are those items which are owned by Greenwich, CT start ups. Vehicles, computers, equipment, tools, inventory, real estate, receivables, and more are considered fixed assets. Leased property or equipment falls outside of the definition, and cannot be used when determining asset based lending solutions. An in-depth analysis is performed on fixed assets to create a revolving business line of credit.
Financing That Grows With Your Start Up
Bank loans offer a finite amount of financing, wit the added burden of debt. Loans do not promote growth for Greenwich, CT start ups. Asset based lending, on the other hand, actually growth with your business. As Greenwich, Connecticut start ups see an increase in receivables, acquire more equipment and supplies, or purchase larger facilities, the amount of financing available through asset based lending also grows. Asset based lending is designed to reflect success, not hinder it with added debt and impacted credit ratings.
Fast Approval To Keep Your Start Up On Track
One of the major complaints about traditional bank loans is that they take a long time to process. For start ups, this can mean missed business opportunities or a strain on internal finances. Asset based lending can be arranged quickly, so you can access the capital you need, when you need it.
The Best Asset Based Lending Solutions In Greenwich, CT
CNH Finance provides the most comprehensive asset based lending solutions for Greenwich, CT start ups. Our experts will perform an in-depth analysis of your fixed assets, taking into account many items which are overlooked by traditional lending channels, in order to get your the highest value on your line of credit. Contact our offices today to get started.