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Asset-Based Lending
A credit line based on various asset classes such as accounts receivable, inventory, equipment or real estate. Clients often use asset-based lending as a stepping stone to traditional bank financing.
How Hennessey Can Help Asset-based lines of credit can be secured with your accounts receivables and inventory. Hennessey Capital can also leverage their partner relationships to provide term loans and leases for equipment and real estate. Transactions are structured with advance rates up to 85% for eligible accounts and 50% for eligible inventory. Pricing is based on prime+ for borrowed funds and an administration fee is charged monthly to manage the collateral base. Borrowing base certificates are required for weekly advances. Monthly financial reporting includes A/R & A/P aging's, inventory status report, and balance sheet and income statements.
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