Several financial executives shared their views on what has been the biggest surprise in asset-based lending (ABL) or factoring markets in 2008. According to Rick Muckelrath, VP, strategic development, Medical Capital Corp, liquidity issues being faced by finance companies have made what were once considered relatively easy finance deals no longer a slam dunk. Traditional finance institutions that previously lined up to partner in ABL transactions have started to shy away. Marc Porter, president, Porter Capital Corp, said what started first quarter with the sub-prime lending crisis, causing community and regional bank failures, has now claimed the lives of some of the US' historic financial heavyweights including Fannie Mae, Freddie Mac, Bear Stearns and Lehman Brothers. As for Michael A Semanco, president & COO, Hennessey Capital LLC, this year's credit market turmoil turns out to be one for the record books, all of them in the ABL and factoring industry are being impacted to some degree.
merger: OPINIONS Anonymous The Secured Lender; Nov/Dec 2008; 64, 6; Docstoc pg. 132 Reproduced with permission of the copyright owner. Furth
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