Additionally, non-accruing loans continued to trend downwards, which, according to the CFA, represents further stabilization in the asset-based lending market.

“It’s clear that asset-based lending filled a crucial access to capital void in the third quarter,” said Andrej Suskavcevic, CEO, Commercial Finance Association. “Due to the sound business practices inherent to asset-based lending, our members continue to have the ability to provide vital financing to businesses of all sizes and across all industry classifications. While the overall credit market is still ripe with uncertainty, businesses should look beyond their traditional bank and explore how asset-based lending can provide them with the capital to sustain or grow their operations. ”

Businesses in need of financing are encouraged to utilize the CFA’s free online service, “Find a Lender,” by visiting www.cfa.com.

The Quarterly Asset-Based Lending Index was conducted by R.S. Carmichael & Co., an independent market research firm, to measure business growth, credit commitment, credit line utilization and portfolio performance of the 19 largest CFA members engaged in asset-based lending. The survey was commissioned by the Commercial Finance Association. For a full copy of the survey, or to interview a CFA executive, please contact Mike Trainor at (919) 674-6020 or mtrainor@sacherokee.com.

Original article here: http://finance.yahoo.com/news/Commercial-Finance-iw-1525873025.html?x=0&.v=1

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