Asset Based Lending - London
Neil Sturgeon, Business Development Manager, London Region:
Hi, I'm Neil Sturgeon and I'm a Director in Barclays Trade and Working Capital Large Corporate Asset Based Lending team. In London, we're organized around industry teams providing depth and breadth of sector knowledge so we understand the issues facing our customers.
We work closely with customers and their advisors to understand their trade cycle and the relative working capital they need so we can discuss solutions to support. Asset Based Lending or ABL is a structured form of working capital finance ideally suited to companies trading on open account and in particular where inventory, receivables and fixed assets feature.
Manufacturing and wholesale are great examples of sectors where inventory is held for a number of weeks or months before completing a sale and we often see buyers stretching credit terms meaning that suppliers may need to be paid before cash is collected from the sale hence a working capital gap. ABL can fund that gap, it's a flexible form of finance ideally matched to growing businesses where increased sales typically drive increased working capital.