The top asset-based lending companies in Orange County are often the best option for businesses that need a loan for various reasons. For example, asset-based lenders can be an excellent source of funding if your business needs to purchase equipment or inventory.
Different from Factoring
Asset-based lending is different from factoring. With asset-based lending, you use your company’s assets as collateral for the loan. In other words, if you have a lot of valuable equipment or inventory and are looking to borrow money to expand your business or buy more equipment, an asset-based lender may help with this financing.
An Extensive Underwriting Process
The underwriting process for top asset-based lending companies in Orange County is quite involved. Lenders will review your credit score, financial statements, and other documents to determine whether you are a good candidate for the loan. They will also call to verify information on these documents. After this initial review, they will look at your assets, liabilities, and other factors influencing their decision to approve or deny your application.
A Good Reputation
It’s vital to find a lender with a good reputation. The best way to do this is by asking around, checking online reviews and testimonials, and talking with other business owners who have used the same asset-based lending company. Reputation is critical because it gives you insight into a company’s trustworthiness, credibility, and service quality. Reputation also helps determine whether they can deliver on their promises.
If you found this information helpful and would like to explore more, please visit Vasco Assets.