Manufacturing sector seeks alternative finance during crunch
Manufacturing businesses are looking to asset-based lending (ABL) as a source of finance, when traditional lenders such as banks are tightening their lending criteria. That's according to asset-based lender Venture Structured Finance, which found that 52% of manufacturing businesses surveyed use ABL, compared with an average of 28% of businesses from other sectors. Other results from the survey revealed that cash flow is a major concern for 62% of manufacturers, compared with 45% of businesses in other industries.
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