STRETCH BEYOND THE TYPICAL FINANCING
Asset-based loans are the touchstone of the lending industry. There are some needs,however, that are not met by these prototypical loans. Are there possibilities that reach beyond the standard asset-based loan? Ira Kreft, Senior Vice President of Fleet Capital Corporation, says, "We can provide a hybrid loan structure which incorporates concepts from both asset-based and cash flow lending. The borrower benefits by obtaining greater loan availability, a more flexible structure and debt repayment schedule and less stringent covenants. This type of loan can be an ideal solution for asset-intensive companies in cyclical industries, marginally performing companies and distribution businesses." Leonard Friedel, Chairman and CEO of Plastic Engineered Components, explains how a lending solution was found for PEC. "To meet the growing demands of our diverse customer base and maintain our competitiveness in the industry, we realized that we needed to expand and upgrade our facilities and equipment. Financing this critical initiative required more liquidity and flexibility than our current lender was able to provide. Fleet Capital met our needs by providing a larger term loan amount and a longer amortization period. The bottom line is that they allowed for the flexibility we needed to meet our objectives."

For more information, contact Clint Cox, Assistant Account Executive, Marketing Communications, Inc., 1000 W. Diversey Pkwy., Suite 3E, Chicago, IL 60614, 773-871-7594, FAX 773-871-4871.