Straight talk on ABL
We’re not doing you a favor
Many lenders take a cookie-cutter approach to evaluating loan transactions. They may be interested in only the most easy-to-value, easy-to-monetize assets, or may limit your borrowing base to a point where it feels like you’re essentially overextended, or leave the impression that it’s a hassle for them to do any unusual underwriting or stay connected after the closing.
We don’t buy it—and we don’t think you have to, either. The reality is, asset-based senior loans can be great for lenders.
They may require extra diligence on our part, but they give us a lot of security. And if they’re great for a lender, they ought to be just as great for your company as the borrower.
That’s the Legacy vision of asset-based lending: Providing the borrower the strongest deal the lender can offer, not just the weakest deal the borrower will take!
It’s a true two-way partnership—that’s how Legacy lends.
Could your business get a bank loan?
Legacy Corporate Lending’s mission is to make asset-based funding more advantageous for middle-market businesses than it has ever been—and that includes many businesses that could, if they chose to, access traditional commercial bank asset-based loans.
Non-bank asset-based loans are sometimes thought of as “alternative,” “second-best,” or even “last resort” compared with bank loans—but when structured according to the strengths, needs, and opportunities of a specific business, that does not have to be the case.
We think businesses should be able to use their assets like they’re assets. The speed, flexibility, often-greater available funding, and enormously more supportive relationship can make a loan from Legacy the preferred route even when a business is eligible for a bank loan.
Tell us what’s most important to you—and we’ll work with you to find your best solution.
Our underwriting focuses on people.
#1 People first
You and your team have the vision and drive to achieve your goals.
#2 Your Plan
You know what it will take to elevate your business.
#3 Collateral
The assets back up the transaction—they don’t determine when Legacy lends.