BANKING
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Irvine’s Plaza Bank covers your assets
The full-service business bank is launching its Asset-Based Lending (ABL) program; Scott Whitfield heads.
By Susan BelknappPublished: September 02, 2009 09:44 AM
Irvine-based Plaza Bank is further enhancing its small business lending services with the debut of its Asset-Based Lending (ABL) program. Scott Whitfield, who has many years of experience with real estate and implementing and managing ABL programs, will oversee the program.
“ABL allows banks to be creative with helping small businesses grow and prosper in any market,” says Whitfield, Plaza Bank’s Asset Based lending manager. “This financing is ideal for companies that can’t qualify for traditional business loans due to fast growth or other extenuating, and often temporary, circumstances.”
ABL for small to medium-sized companies can be qualified if they are secured by accounts receivable, inventory, machinery, equipment and real estate. Most banks currently do not offer an ABL program.
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Irvine-based Plaza Bank is further enhancing its small business lending services with the debut of its Asset-Based Lending (ABL) program. Scott Whitfield, who has many years of experience with real estate and implementing and managing ABL programs, will oversee the program. “ABL allows banks to be creative with helping small businesses grow and prosper in any market,” says Whitfield, Plaza Bank’s Asset Based lending manager. “This financing is ideal for companies that can’t qualify for traditional business loans due to fast growth or other extenuating, and often temporary, circumstances.” ABL for small to medium-sized companies can be qualified if they are secured by accounts receivable, inventory, machinery, equipment and real estate. Most banks currently do not offer an ABL program. NEXT PAGE >> Related headlines 3000 The Plaza in Irvine acquired by Geoffrey Edmunds & Associates 'OC METRO Minute,' Aug. 28: Online interest in O.C. homes up Three O.C. homes named among Top 10 Coolest Beach Homes O.C.'s median home price falls 7 percent from July '08 |
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