Factoring Blog - For Small Businesses

Following up on my earlier post about bank credit tightening, there’s a report in the Washington Business Journal saying that asset-based lenders and factoring companies are seeing a surge in business right now. The article attributes it to the state of the economy and in particular, the state of the banking industry, with its tightening of credit.

Factoring and asset-based lending is thriving in this environment, it says. It also goes on to note these statistics:

“A survey published by the Commercial Finance Association July 8 found that the ABL industry in the U.S. grew 11 percent in 2007 to $545 billion in outstanding loans. The industry has grown 63 percent since 2003, when it boasted $334 billion in loans outstanding. Factoring volume grew 6.5 percent to $135 billion in 2007.”

Notice the statement at the end of that quote, about the growth in factoring.

This entry was posted on Friday, July 25th, 2008 at 11:52 pm and is filed under Factoring. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.