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Please note that our lending partners promote various business loan products. Interest rates and APR will vary between lenders. Rates are also dependent on the qualifications of individual users

Asset-Based Loans for your Business

What is Asset Based Lending?

An asset-based loan is a business loan which carries collateral in the form of assets, such as business equipment, inventory, and assets from balance sheets. When a business cannot ensure that its cash flow can cover the loan, the lender can approve the loan based on the overall value of the business's assets.

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Important To Know

Asset-based loan interest rates are low
When comparing the rate of interest to alternative loans, in particular, unsecured business loans, the interest rates on asset-based loans is considerably lower and this alone is always a major plus for business owners seeking funding for small businesses. The primary reason for the low rates is because the business's assets can be used as collateral in the event that repayment cannot be made.

New equipment can be purchased
Asset-based loans enable businesses to acquire new and improved equipment, and of the highest quality. New equipment significantly boosts productivity levels and increases output due to fewer repairs required and lower maintenance costs. This saves ample amounts of business capital for everyday business operations.

Asset-based loans have tax benefits
Though capital allowances, businesses which have taken out asset-based loans are eligible for tax benefits in certain cases. These benefits come in the form of financial deductions corporation tax bills. A major advantage is that these allowances are available on a multitude of business inventory and equipment.

 

Customer Testimonials

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    I was connected to a lender, and everything was done with the click of a button.

  • Extremely easy and fast loan process

    Extremely easy and fast loan process, received the money in my account within 24 hours. I wish I would have received more money that I had requested but other than that there was zero issues

  • It was an easy experience.

    They were so helpful and explained everything to me so that all my questions were answered and I was comfortable with my loan.

  • Quick and easy process

    Quick and easy process

  • 5 out of 5

    The process was fast and very easy. I didn't encounter any problems from the beginning of the application to when I was funded.

  • Very transparent process

    It was a quick and simple process, very easy and transparent.

  • Efficient process

    The process was pretty good! It met my expectations with its service and speed.

  • The people from Target Advance were amazing

    The people from Target Advance were amazing

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    I had a great experience getting a loan with Become. The staff was very responsive and guided me throughout the whole process. I highly recommend working with Become!!

  • Great company

    Everything was great. Thanks for the help.

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