The World of Asset Based Lending

If you are not quite sure what asset based lending is in relation to other types of lending, you are definitely not alone. David Golob is CEO of Microcom Technologies, a high-volume wholesaler and Amazon seller, and an expert on asset based lending, and he’s here to give us the goods on this unique lending type.

Listen in as David shares why you might consider asset based lending over other types of financing, as well as what you can expect the process to look like. You’ll learn some of the mistakes that he’s made (so you can avoid going down the same road), the standard bank fees, and more. This is a great primer on asset based lending that you won’t want to miss!

You’ll learn:

• Why you may want to consider vendor terms as a way to fill the money gap. (4:55)
• What asset based lending is. (7:00)
• What kind of banks offer asset based lending. (9:20)
• Why you would consider asset based lending over other types of lending. (12:15)
• How much an average bank will loan you based on your assets. (14:30)
• What happens if a bank has to foreclose on a loan. (16:25)
• What the process of asset based lending looks like. (19:50)
• The standard fees from the banks and which ones can usually be negotiated. (22:40)
• How often you can expect an audit on your inventory. (27:55)
• Some of the mistakes that David has made with this type of lending. (33:40)
• What Microcom.us specializes in. (37:30)

Subscribe: iTunes | Stitcher

(With your host Andrew Youderian of eCommerceFuel.com and David Golob of Microcom.us)

What Was Mentioned

• David Golob: Website | LinkedIn | Twitter
• Reach out to David for advice (Community Membership required)
• Chris Harrison – Liber & Co.
• Bobby Reger – Elements Brands
• Dhruvin Patel – Ocushield
• Joshua Cauley – Amplicell
• Tomas DeFrancia – RovR Products
• Elliot Kim – Brevitē
• Augusto Moronta – Better Not Younger
• C2FO
• One Click Upsell – Increase Sales 15%+ with Pre-and Post-purchase Upsells. (On average, Shopify users increase sales 15% immediately after installing the app!)

Image credit to Jatinder Singh/GeniusMaker from Pixabay.

Post by Andrew Youderian

Andrew is the founder of eCommerceFuel and has been building eCommerce businesses ever since gleefully leaving the corporate world in 2008.  Join him and 1,000+ vetted 7- and 8-figure store owners inside the eCommerceFuel Community.