Asset Based Lending Whitepaper Published by Venture Finance

Oct. 26, 2009 - PRLog -- Premier Invoice and Asset Based Lender Venture Finance has today published its “The Evolution of Invoice and Asset Based Lending” white paper following a high-level industry think tank.

The event was designed to examine the opportunities for the Invoice and Asset Based Lending industry given the radically changed lending landscape. The resulting white paper outlines the conclusions and recommendations reached, and is available for download from http://www.venture-finance.co.uk/ABLwhitepaper

Chaired by Professor Nigel Waite, head of the Financial Services Research Forum, the ‘Evolution of Alternative Finance’ think tank drew together industry representatives including the Asset Based Finance Association (ABFA), KPMG, the Federation of Small Businesses (FSB), the South East Economic Development Association (SEEDA), a successful retail business as well as relevant media and research bodies.

The impetus for the discussion stemmed from the widespread industry consensus that the Invoice and Asset Based Lending industry is at a watershed moment in its history. The closure of conventional forms of funding bought about by the banking crisis has injected a previously ‘niche’ form of finance with a greater degree of urgency and relevance to the UK business community – Venture’s own recent research found that 60 per cent of accountants reported clients are being more proactive in investigating alternative forms of funding.

Following the wide-ranging and lively discussions, the contributors found that for too long, ABL has been perceived as an alternative form of funding. If the lessons of the last decade are to be learnt and those preconceptions overcome, the attendees identified a need to educate government, introducers and end users to the benefits of a more ‘common sense’ approach to lending, giving particular emphasis to the higher level of service that is at the heart of the ABL approach.  



The report, which has been endorsed by Kate Sharp, Chief Executive of ABFA, concludes with some key areas for action, including an industry-wide effort to abandon references to itself as being ‘alternative’. The white paper outlines the need to – and benefits of – emphasising service as a key advantage over some aspects of the traditional banking offering, greater investment in education and promotion, and a simplification of the terminology which is so often cited as a barrier to entry.

Peter Ewen, Managing Director, Venture Finance comments: “At this important time for our industry, and in Venture’s 20th year of operation, we wanted to ignite a debate with key opinion formers. The conclusions reached should be of interest to key industry players and the wider advisory community alike.

“UK businesses are relying more heavily than ever before on strong relationships with their financiers – crucial to achieving stability and emerging from the recession in a position of strength. Greater numbers are also moving away from traditional sources to more robust and responsive funding methods. Invoice and Asset Based Lending offers both the quantum and certainty of funding to facilitate restructuring, growth and even acquisition.”

Those interested in receiving a copy of the white paper, entitled The Evolution of Invoice and Asset Based Lending, can contact Midnight Communication 01273 666 200 or download the report at www.venture-finance.co.uk/ABLwhitepaper.

http://www.venture-finance.co.uk/#factoring-and-invoice-f...

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About Venture Finance – www.venture-finance.co.uk

Venture Finance is an award-winning premier independent Invoice and Asset Based Lender, established in 1989. Venture was the first independent invoice financier to offer Asset Based Lending (ABL) in the UK in 1990 and was the first authorised independent invoice financier to provide the Government’s Small Firms Loan Guarantee Scheme, lending almost £20m to clients over its 10-year life. It is now active in the new and improved Enterprise Finance Guarantee scheme.