NEW YORK, NY, Nov 16 (MARKET WIRE) --
The Commercial Finance Association (CFA) today released its Quarterly
Asset-Based Lending Index, Q3 2009, revealing a dramatic 29 percent
increase in new credit commitments among asset-based lenders.
Additionally, non-accruing loans continued to trend downwards, which,
according to the CFA, represents further stabilization in the asset-based
lending market.
"It's clear that asset-based lending filled a crucial access to capital
void in the third quarter," said Andrej Suskavcevic, CEO, Commercial
Finance Association. "Due to the sound business practices inherent to
asset-based lending, our members continue to have the ability to provide
vital financing to businesses of all sizes and across all industry
classifications. While the overall credit market is still ripe with
uncertainty, businesses should look beyond their traditional bank and
explore how asset-based lending can provide them with the capital to
sustain or grow their operations. "
Businesses in need of financing are encouraged to utilize the CFA's free
online service, "Find a Lender," by visiting www.cfa.com.
The Quarterly Asset-Based Lending Index was conducted by R.S. Carmichael &
Co., an independent market research firm, to measure business growth,
credit commitment, credit line utilization and portfolio performance of
the 19 largest CFA members engaged in asset-based lending. The survey was
commissioned by the Commercial Finance Association. For a full copy of the
survey, or to interview a CFA executive, please contact Mike Trainor at
(919) 674-6020 or mtrainor@sacherokee.com.
About CFA
Founded in 1944, the Commercial Finance Association is the trade group of
the asset-based financial services industry, with nearly 300 member
organizations throughout the U.S., Canada and around the world. Members
include the asset-based lending arms of domestic and foreign commercial
banks, small and large independent finance companies, hedge funds, private
equity firms, floor plan financing organizations, factoring organizations
and financing subsidiaries of major industrial corporations.
Media Contact:
Mike Trainor
(919) 674-6020 x158
Mtrainor@sacherokee.com
Copyright 2009, Market Wire, All rights reserved.
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