Lloyds TSB Commercial Finance, the provider of invoice discounting and asset based financial solutions, has reported a 50% growth in both asset-based lending deals and funds advanced to date this year.
The increase in asset-based lending activity has resulted in a 68% rise in the total value of all transactions completed this year, compared to the same period last year.
Asset-based lending is growing in popularity as it typically allows businesses to raise more finance than conventional bank lending. Providing facilities against a package of assets such as book debts, stock, property and plant and machinery, is particularly valuable for businesses looking to finance transactions such as acquisitions and management buy-outs.
