Evan Samlin talks about asset-based lending and feels that it can help improve a company’s cash flow by converting assets into liquid funds. The businesses can use the proceeds from the loan to pay off existing debts, invest in new opportunities, purchase inventory, and meet other legal obligations.
Evan Samlin Explains How Asset Based Lending Can Help Improve a Company’s Cash Flow
1. Evan Samlin Explains How Asset Based Lending
Can Help Improve a Company’s Cash Flow
The previous few years have resulted in the closure of numerous smaller
businesses due to factors including COVID-19, fast inflation, and supply chain
problems. According to Evan Samlin, President and Founder of REIL Capital,
the local small businesses that enhance our lives every day have the
opportunity to get some more love and support as they begin to reopen.
Evan made donations to small businesses that were harmed by Hurricane
Ida's extensive destruction. He and his cousin Ian saw right away how
desperately needed storm catastrophe help was. He is always willing to help
others and give back to the community in any way he can.
Evan exhorts company owners to manage their costs in a proactive manner.
He continues by saying that in addition to having an emergency fund on hand,
you need to properly control your spending in accordance with your income.
It's essential to keep a good balance in your bank account if you want to get
approved for high-caliber loans.
In a bid to give back to these businesses, Evan Samlin has assisted with
facilitating approximately $25 million in Employee Retention Credit Program
for similar firms around the US. Supply chain interruptions that affect
businesses are eligible for the Employee Retention Credit. Due to the overlap
of several decrees issued by various governments, it might be difficult for an
employer to identify which of its supply chain delays were brought on by
limitations imposed by the government.
He further talks about asset-based lending and feels that it can help improve a
company’s cash flow by converting assets into liquid funds. The businesses
can use the proceeds from the loan to pay off existing debts, invest in new
opportunities, purchase inventory, and meet other legal obligations.
Overall, asset-based lending supports business growth and expansion
initiatives. The businesses can secure the necessary funds to invest in new
equipment by leveraging their assets. This type of financing allows businesses
to seize growth opportunities without diluting ownership.
2. Considering it a great way to satisfy working capital needs, Evan Samlin
offers asset-based lending as a small business funding option. He believes that
businesses need to have strong cash flow, a strong revenue history, and solid
credit if they are looking for a good option. However, if it is impacted by low
revenue, cash flow dips, or poor credit, an asset-based loan can still be an
option.