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Awareness of asset based lending (ABL) has been growing steadily for some time. It has long since been a feature of business finance in the US, and multi-million pound deals have become increasingly common in the UK in recent years. Now, it's being identified as a viable lending solution in Ireland too.
Since we started offering asset based lending, its popularity has increased significantly, and Close Brothers Commercial Finance is a competitive provider on the island. With the strength and stability of our FTSE250 company parentage, we work closely with financial advisors, accountants and independent businesses to provide multi-asset funding solutions, with large facilities already being drawn down.
Asset based lending provides cash flow boost
Our ABL proposition is simple. It provides higher levels of funding for mid-to-large companies by blending invoice finance with funds released against other business assets. We lend against a wide range of assets, including new and used plant and machinery, property and stock. We can also augment this offering with cash flow loans for companies with a history of strong cash generation and positive forecasts.
As firms using ABL secure borrowing against existing assets, it can provide better financial stability and more predictable cash flow. By releasing the equity tied up on your balance sheet, we help you to release working capital quickly, as well as ensuring your funding structure is manageable and has longevity.
For many of the businesses we work with, asset based lending gives them a funding boost and competitive advantage. It's often regarded as a strategic management tool, to enable acquisitions, MBOs and MBIs, as well as refinancing non-traditional lenders. It can also be used to increase liquidity on a day-to-day basis, and grows in line with turnover, giving more flexibility.
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Our bespoke, flexible approach
We don't shy away from complex transactions. Today, we are proud to be working closely with all kinds of viable businesses to tailor solutions and ensure that they can keep trading, both now and in the future. We also routinely work with other lenders and private equity firms to help leverage the right funding structure.
Since we opened in Dublin over ten years ago, we have been leading the way towards more sustainable funding for Irish SMEs, and our aims regarding asset based lending are the same. We are continually focused on providing the most sophisticated and commercially worthwhile deals possible.
All of our solutions are designed to support you over the long-term, being both financially maintainable and flexible enough to adapt with your requirements. With offices in Dublin, Cork, Galway and Belfast, and a wider team situated across Ireland, we are able to share our expertise regarding funding with more people than ever before. We offer invoice finance, asset finance and asset based lending with a core goal of supporting businesses through the years.
Close Brothers: modern merchant banking
Close Brothers is a UK merchant banking group providing lending, deposit taking, wealth management services, and securities trading. Close Brothers Group plc is listed on the London Stock Exchange and is a member of the FTSE 250.
Our core purpose is to help the people and businesses of Britain and Ireland succeed over the long term. To achieve this, all of our diverse, specialist businesses have a deep industry knowledge, so they can understand the challenges and opportunities that our customers and clients face. We support the unique needs of our customers and clients.
• Visit our website to find out more: www.closecommercialfinance.ie
Pictured: Adrian Madden (left), Head of Sales Ireland, with Ciaran McAreavey (centre), Managing Director Ireland, and Paul Stephens, Head of Corporate and ABL
