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As access to capital has become increasingly restricted for middle-market companies, many businesses seeking liquidity have begun to see alternative financing solutions, like those offered by asset-based lenders, as an attractive option.

Asset-based lending (ABL) often comes under fire from critics who claim these loans drive borrowers to default, but it can be a useful tool. ABL provides liquidity to both distressed companies undergoing a turnaround process and growing companies looking to expand. It’s more expensive than traditional borrowing, but generally an ABL arrangement gives the borrower access to the lender’s expertise—which some midmarket businesses find to be worth the steep price tag, even if they have a number of borrowing options.

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