Transamerica Offers Asset-Based Lending Program To Manufacturers And Distributors:
Furniture World News
Transamerica Distribution Finance Corporation (TDF) is introducing an asset-based lending (ABL) program compliment its existing inventory finance products. ABL allows manufacturers and distributors to leverage existing assets, such as accounts receivables, to supplement cash flow cycles.
"It's common for manufacturers and distributors who sell on open account to use outside capital for short-term cash flow needs, especially when offering extended terms to their customers," notes Tom Corrigan, vice president for TDF's new ABL unit. Our ABL program will allow customers to maximize their existing assets by using them to support revolving lines of credit for a wide variety of purposes including growth financing, recapitalization, acquisitions, financing unusually large orders or meeting seasonal liquidity needs."
To participate in the program, qualified manufacturers and distributors simply provide TDF with documentation of their assets on a pre-arranged basis. TDF agrees to lend on a percentage of these assets.
For more information call 1-800-292-2872.
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