{"id":4095,"date":"2020-11-17T03:32:00","date_gmt":"2020-11-17T08:32:00","guid":{"rendered":"http:\/\/www.accordfinancial.com\/?p=4095"},"modified":"2020-11-17T14:06:35","modified_gmt":"2020-11-17T19:06:35","slug":"growth-financing-through-asset-based-lending","status":"publish","type":"post","link":"https:\/\/accordfinancial.com\/staging\/growth-financing-through-asset-based-lending\/","title":{"rendered":"Growth Financing Through Asset-based Lending"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Manufacturing businesses rely substantially on heavy machinery and equipment, the acquisition and maintenance for which make up a huge part of capital and operating costs. Manufacturing processes, usually complex in nature, also require adequate resources for inventory, human capital, supply chain, purchases, logistics and other operating costs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Availability and ease of access to funds is crucial for growth financing, and where traditional banks do not meet the unique needs of a growing business, alternative lenders become essential. Manufacturing businesses can explore asset-based lending solutions to meet growth financing needs.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Asset-based Lending Financing Options<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">What growth financing options exist for manufacturing businesses? Here are a few asset-based lending options to consider:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Equipment financing:<\/strong> Small and medium sized businesses with competing cash needs can explore <a href=\"https:\/\/accordfinancial.com\/staging\/en\/financing-services\/equipment-finance\/\">equipment financing<\/a> through leasing or equipment loans. Businesses may have the option to use existing equipment as collateral to obtain new equipment financing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Inventory financing:<\/strong> Eligible inventory purchases can be funded through a line of credit or loan which are in turn collateralized by the inventory. Businesses without adequate history or other complex requirements from traditional banks can access funds for growth and expansion through <a href=\"https:\/\/accordfinancial.com\/staging\/en\/financing-services\/retail-inventory-financing\/\">inventory financing<\/a> from non-conventional financial organizations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Accounts receivable financing: <\/strong>Manufacturing businesses with cash locked up in accounts receivable can access cash more quickly with less strict collateral requirements through <a href=\"https:\/\/accordfinancial.com\/staging\/en\/financing-services\/accounts-receivable-financing-factoring\/\">accounts receivable financing<\/a> and factoring. Growth financing can be accessed by using eligible accounts receivable balances as collateral for new loans or by factoring and selling accounts receivables to factoring agencies.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Accord Financial &#8211; Simplifying Access To Growth capital<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">With challenging business conditions and changing economic dynamics, manufacturing businesses need access to funds for growth. Expanding manufacturing operations can be pursued with ease by partnering with Accord.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Accord Financial specializes in growth financing solutions for small to medium sized businesses . Irrespective of the stage of operation and\/or growth, Accord provides access to capital through loans or a line of credit, accounts receivable financing and other forms of asset-based lending solutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Businesses that cut across various manufacturing sectors such as automotive, aerospace, food and consumer goods needing growth financing or other cash flow needs would benefit from and leverage on the expertise from the <a href=\"https:\/\/accordfinancial.com\/staging\/en\/industry-expertise\/manufacturing\/\">manufacturing finance<\/a> team at Accord.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Manufacturing businesses rely substantially on heavy machinery and equipment, the acquisition and maintenance for which make&#8230;<\/p>\n","protected":false},"author":2,"featured_media":4092,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[],"location":[],"class_list":["post-4095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>11\/17\/2020 | Growth Financing Through Asset-based Lending | Accord Financial<\/title>\n<meta name=\"description\" content=\"The North American manufacturing industry contributes significantly to the economy. With more than 10% of Canada\u2019s GDP, the sector accounts for $174b CAD of total GDP. In the U.S, manufacturing accounts for 11.39% of total output.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/accordfinancial.com\/staging\/growth-financing-through-asset-based-lending\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"11\/17\/2020 | Growth Financing Through Asset-based Lending | Accord Financial\" \/>\n<meta property=\"og:description\" content=\"The North American manufacturing industry contributes significantly to the economy. With more than 10% of Canada\u2019s GDP, the sector accounts for $174b CAD of total GDP. In the U.S, manufacturing accounts for 11.39% of total output.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/accordfinancial.com\/staging\/growth-financing-through-asset-based-lending\/\" \/>\n<meta property=\"og:site_name\" content=\"Accord Financial\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/accordfinancialcorp\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-17T08:32:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-17T19:06:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/accordfinancial.com\/staging\/wp-content\/uploads\/2020\/10\/growth-financing-through-asset-based-lending_hero.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"2400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Luke Galambos\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@accordfincorp\" \/>\n<meta name=\"twitter:site\" content=\"@accordfincorp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Luke Galambos\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/accordfinancial.com\\\/staging\\\/growth-financing-through-asset-based-lending\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/accordfinancial.com\\\/staging\\\/growth-financing-through-asset-based-lending\\\/\"},\"author\":{\"name\":\"Luke Galambos\",\"@id\":\"https:\\\/\\\/accordfinancial.com\\\/staging\\\/#\\\/schema\\\/person\\\/1bff775a9c973aa888005cae05242b9e\"},\"headline\":\"Growth Financing Through Asset-based Lending\",\"datePublished\":\"2020-11-17T08:32:00+00:00\",\"dateModified\":\"2020-11-17T19:06:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/accordfinancial.com\\\/staging\\\/growth-financing-through-asset-based-lending\\\/\"},\"wordCount\":371,\"image\":{\"@id\":\"https:\\\/\\\/accordfinancial.com\\\/staging\\\/growth-financing-through-asset-based-lending\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/accordfinancial.com\\\/staging\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/growth-financing-through-asset-based-lending_hero.jpg\",\"articleSection\":[\"Insights\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/accordfinancial.com\\\/staging\\\/growth-financing-through-asset-based-lending\\\/\",\"url\":\"https:\\\/\\\/accordfinancial.com\\\/staging\\\/growth-financing-through-asset-based-lending\\\/\",\"name\":\"11\\\/17\\\/2020 | Growth Financing Through Asset-based Lending | Accord Financial\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/accordfinancial.com\\\/staging\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/accordfinancial.com\\\/staging\\\/growth-financing-through-asset-based-lending\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/accordfinancial.com\\\/staging\\\/growth-financing-through-asset-based-lending\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/accordfinancial.com\\\/staging\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/growth-financing-through-asset-based-lending_hero.jpg\",\"datePublished\":\"2020-11-17T08:32:00+00:00\",\"dateModified\":\"2020-11-17T19:06:35+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/accordfinancial.com\\\/staging\\\/#\\\/schema\\\/person\\\/1bff775a9c973aa888005cae05242b9e\"},\"description\":\"The North American manufacturing industry contributes significantly to the economy. 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