“[As an asset-based lender … ] We will continue to prioritize our efforts to reach out to small and mid-sized businesses that are in need of capital and can’t wait months for credit approval.”
FSW Funding is an asset-based lender, and we base our credit lending decisions on the credit worthiness of our client’s customers. Since banks base their credit decisions on the historical cash flow of a business, we have been a great solution for companies that are growing in the COVID economy. Thus, we have been very busy financing essential businesses such as PPE vendors and staffing companies.
Asset-based lenders are well-positioned to lend to small and mid-sized businesses that are finding new opportunities. For example, we have had clients who imported goods from China and used these supply chains to secure much-needed masks and other PPE durable products. Since asset-based lenders base credit decisions on the credit worthiness of the company’s customer and not historical cash flow, they can quickly approve millions of dollars of credit for clients. This access to capital is critical as most banks are still dealing with the PPP loan program and managing their portfolios.
FSW will continue to work with clients and prospects who are running essential businesses such as providing masks, PPE durable products, food and temporary staffing to healthcare and manufacturing. These are businesses that are growing fast and are overlooked by banks. We will continue to prioritize our efforts to reach out to small and mid-sized businesses that are in need of capital and can’t wait months for credit approval. America needs to get the economy moving and that starts with small business!
Robyn Barrett is the managing member of Phoenix-based FSW Funding, an independently owned and operated factoring firm that she founded in 2001. FSW Funding helps small to mid-sized companies secure funding that may not otherwise be available by giving them access to the capital needed to grow.
Barrett’s background includes five years in corporate finance at FINOVA Capital Corporation, a publicly traded commercial lender. She holds a master’s degree in business administration from Grand Canyon University and is an active member of numerous industry organizations that include American Institute of Certified Public Accountants, Arizona Society of Certified Public Accountants, Risk Management Association and American Factoring Association.