Asset-Based Lending Education and Training

Get educational resources for your asset based lending group
By Trisha Schulz From books and articles to training programs designed solely for asset-based lenders, there are many different educational opportunities for those in the banking industry. Not only will you need to possess a firm grasp on the basics of asset based lending but also keep up with the latest methods and technological advances.

It's always good for anyone in your banking institution to learn more about asset-based loans. Not only will it improve your skills and further your knowledge, in turn you'll be able to provide better customer service, setting yourself apart from competitors.

Consider the following information:

1. Many different positions within asset based lending companies will need job-specific training, from audit managers to loan administrators and account executives.

2. Make sure associates at your asset based lending company understand the difference between asset based lending and traditional commercial avenues.

3. Conferences and live seminars for asset based commercial lenders also offer the extra perk of networking with industry professionals.

Read articles for your asset-based lending education and training

The lending industry revolves constantly. For the most up-to-date information, find web articles on asset based financing. Be careful to rely only on credible information sources.
Try:  Browse the ABF Journal Article Directory to find items of interest, or read through this story from Open Capital.

Obtain books for asset based lenders

For more in-depth education, turn to books written on asset based financing. Although they won't be as timely as online articles, the basic principles will have remained the same. You'll most likely be able to hang onto a book much longer, too.
Try:  Browse the list of books available through Practising Law Institute. There are three options related to asset based financing. Read the CPA Journal's review of "Asset Based Finance: Proven Disciplines for Prudent Lending" by Gregory F. Udell.

Attend asset based financing conferences or seminars

Experts in the field lead conferences, seminars, classes and workshops all across the country. Not only will you gain knowledge, you'll also be able to network with others in the industry. You'll want to make sure to register ahead of time, as class size is generally limited.
Try:  Check BankerResource.com's list of upcoming live teleconferences on asset based lending; the International Factoring Association lists more events. The Commercial Finance Association provides education programs on a number of banking topics including international asset based lending and asset based lending and factoring basics geared toward new businesses. Clear Choice Seminars presents on-site training seminars led by an asset-based lending veteran.

• While asset based lending rates can be higher than traditional rates, you'll want to negotiate a fair rate for your customer. Consider how long the client has been in business and double check their credit. You'll also want to be up front with the customer about any other fees that may be involved.