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05-10-2017, 02:32 AM #13
Reputation points: 503040
- Join Date
- Oct 2016
- Posts
- 4,318
Jerry, no offense, but you really have a limited understanding of what asset based lending entails in business finance. ABLs are literally just any type of financing collaterized by assets (see: Google).
The most common asset used for an asset based business financing is AR - not real estate. In fact, often in mid and small cap asset based lending, commercial real estate (let alone personal real estate) isn't even an eligible asset for a credit facility.
Even more, just about every asset based business lender will request some sort of financial(s) to get approved. Therefore there are absolutely income verification involved with just about any asset based business loan.
Now, just because your niche product lends solely on a property's equity, doesn't mean it's indicative of asset based business lenders as a whole. It's not. From what your website says, you guys seem almost solely focused on fix and flips and whatever.
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