US ABL new-client commitments jump 59%-61% in Q2 2026, SFNet data shows

New asset-based lending commitments to new clients increased almost 60% during the second quarter of 2026 as both bank and non-bank lenders reported a sharp rebound in new business, according to the latest Secured Finance Network data.

New commitments rose 58.7% quarter on quarter among banks and 60.9% among non-bank lenders, reversing the softer first-quarter environment and giving the US ABL market greater momentum heading into the second half of the year.

The change was particularly visible at banks. Net commitments moved from negative US$510m in the first quarter to positive US$2.81bn in Q2. Among respondents with longer reporting histories, banks had US$366.9bn of total commitments and US$147.2bn of outstandings.

Overall bank commitments increased 1.3% during the quarter and outstanding balances rose 2%. Non-bank commitments increased 3.9%, although their outstanding balances fell 1.2%.
That divergence suggests businesses are arranging more collateral-backed liquidity without immediately drawing all of the capacity available to them.

Bank facility utilisation reached 40.1%, slightly above its nine-year average of 39.8%. Non-bank utilisation fell 2.7 percentage points to 52%, even as lenders added commitments.

Expectations for future demand strengthened considerably. SFNet’s bank index for new-business demand rose eight points to 68, with 36% of respondents expecting demand to improve. The non-bank index rose two points to 83, with two-thirds expecting an increase. No participating lender expected demand to weaken.

Credit performance at banks also improved. Criticised and classified loans fell by 80 basis points to around 10% of outstandings, while non-accruals declined to 0.78% and gross write-offs to 0.09%. Both loss measures were below their 30-year averages.

Non-bank credit indicators were more mixed, with problem-credit measures rising, although realised losses remained low.
The survey covered 36 bank and non-bank ABL lenders.

The figures point to a market where new borrowers are securing considerably more funding capacity while actual line utilisation remains comparatively restrained. That distinction matters because the Q2 growth appears to reflect increased demand for liquidity protection and borrowing flexibility as much as an immediate surge in cash drawings.