ASSETBASED LENDING
\ˈasɪtbˌe͡ɪst lˈɛndɪŋ], \ˈasɪtbˌeɪst lˈɛndɪŋ], \ˈa_s_ɪ_t_b_ˌeɪ_s_t l_ˈɛ_n_d_ɪ_ŋ]\
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Financing that uses the asset being purchased as collateral for the funds to buy it. The collateral's quality is the important factor here. The loan amount is based on the asset value and its marketability upon default. Its off balance sheet financing. AK
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.