Asset Based Lending - London & Eastern
Nick Littleford, Head of Receivables Origination, London and Eastern:
Hi there, Nick Littleford, Head of Receivables Origination, London and Eastern. Both London and Eastern regions have strong histories of innovation, which continue today. Traditional sectors like manufacturing, transport and logistics, general wholesale and food and drink is still important and are added to by the likes of energy, health sciences and technology. In the Eastern region, our industry teams provide sector knowledge so we understand issues facing our customers.
Asset Based Lending and receivables facilities can meet that working capital gap structured against current and fixed assets and ultimately repaid from cash collections. It's entirely flexible as the customer has the option to draw cash up to the funding generated, which is formulated to the asset values. This allows flexibility for the facilities to grow in line with the growth of the business, from financing mergers and acquisitions, to tooling up for seasonal peaks, more UK organizations are turning to Asset Based Lending to respond quickly to cash flow challenges and business opportunities.
Unlike traditional bank lending products, Asset Based Lending focuses on the current status of assets and cash generation as opposed to leverage tests, unless the product is gaining increased advocacy from the professional community. At Barclays we are committed to delivering the client the right solutions at the right time and in the right way.