As the lending community regroups in 2007 to deal with the write-downs of subprime business, the tightening of credit availability means more attention, and money, should soon move to asset-based lenders and factoring organizations in 2008. The large and small industry players surveyed say that ABL players are ready and well equipped to respond to the growing needs of borrowers. Peter Schwab, chairman and CEO of Wells Fargo Foothill, notes, there has been pressure on the banks to grow, and they hadn't been referring business on to them. Warren K. Mino, president and COO of Webster Business Credit, is predicting moderate growth for his company in 2008. Jim Rothman, president of Capital TempFunds predicts a backlog of business for the ABL sector in 2008, especially as these lenders expand their operations to accommodate other services. Additionally, smaller and more specialized ABL players are more sensitive to the ebbs and flows of the economy.
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