A balance-sheet loan is Close at hand

Close Brothers lead the way with asset-based lending

Close Brothers has moved to Swift Square, Santry Demesne, Northwood, Dublin 9: pictured are Linda Mallon, Client Services Director; Paul Stephens, Head of Sales, Invoice Finance and ABL, Invoice Finance; Ciaran McAreavey, Managing Director; Ian McMurray, Client Services Director, Asset Finance; and Adrian Madden, Head of Sales Ireland

SMEs are encouraged to think beyond the traditional lenders and traditional facility types, to consider alternative funders and dynamic new funding instruments.

Close Brothers Commercial Finance is currently the only provider of asset-based lending (ABL) in the Irish marketplace. Paul Stephens, head of sales (invoice finance), said: “In the UK, invoice finance has evolved significantly to ABL with post credit crunch high street, merchant and challenger banks focused on ABL offerings.”

Stephens expects ...