US secured-finance deals jump 24.6% as factoring transactions rise 30%

Reported secured-finance transactions increased 24.6 per cent during the third quarter of 2026, while factoring-related deals rose by approximately 30 per cent, according to new figures from the Secured Finance Network (SFNet).

The organisation’s latest Deal Table recorded 279 transactions between July and September, compared with 224 in the second quarter, reflecting stronger reported activity across asset-based lending, factoring and specialty finance.

Factoring accounted for 69 transactions, up from 53 in the preceding quarter, an increase of 30.2 per cent.

A further 31 transactions involved accounts receivable, invoice finance or other receivables-based structures. After removing seven transactions appearing in both categories, SFNet identified 93 distinct receivables-related deals, representing approximately one-third of the quarterly total.

The figures provide a useful indication of the continued demand for financing secured against commercial assets and customer payment obligations.

Non-bank lenders played a particularly prominent role.

Of the 279 reported transactions, 198 involved exclusively non-bank lenders, equivalent to approximately 71 per cent of the total. Banks alone accounted for 71 transactions, or 25.4 per cent, while ten transactions involved both bank and non-bank institutions.

The distinction highlights the position of independent finance companies, specialist factors and private-credit providers within the secured-lending market.

Although traditional banks remain important participants in larger facilities and syndicated transactions, non-bank providers frequently compete through more specialised collateral structures, underwriting approaches and financing arrangements for borrowers whose requirements do not fit conventional lending criteria.

SFNet recorded 219 distinct lender names across 409 lender-level entries, demonstrating the breadth of institutions participating in transactions reported to its Deal Table.

Technology was the largest industry category, with 26 financings, followed by manufacturing with 23 and transportation with 22. Distribution, energy, food and beverage, healthcare and staffing also featured prominently.

Monthly transaction activity was highest in August, when 106 deals were recorded, compared with 89 in July and 84 in September.

The results should not be interpreted as a complete census of the secured-finance market. They measure transactions included in SFNet’s reporting database rather than every facility originated across the industry.

Nevertheless, the combination of higher reported deal counts, increased factoring activity and substantial non-bank participation indicates a competitive funding environment in which receivables and other commercial assets remain central to working-capital provision.

The particularly strong growth in factoring-related transactions suggests that access to liquidity against outstanding customer payments continues to feature prominently in the financing options available to businesses.