Commercial Finance sees 17.1% rise in asset-based commitments in third quarter

By Sara Rosenberg

New York, Nov. 24 - The Commercial Finance Association's newly released quarterly asset-based lending index showed a 17.1% increase in new credit commitments in the third quarter, according to a news release.

In the second quarter, commitments had increased by 16.2%.

"Despite the very real crisis that exists within the credit markets, our members are largely still able to provide capital to businesses of all sizes," said Andrej Suskavcevic, chief executive officer of Commercial Finance Association, in the release.

"Asset-based lending represents a uniquely stable and viable source of funding for businesses of all sizes and industries. This stability is even more apparent in tumultuous credit scenarios like our economy is facing today," Suskavcevic added.

Commercial Finance Association is the trade group of the asset-based financial services industry.

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