Asset-based lending is any kind of lending secured by an asset. This means, if the loan is not repaid, the asset is taken. In this sense, a mortgage is an example of an asset-backed loan. More commonly however, the phrase is used to describe lending to business and large corporations using assets not normally used in other loans. Typically, these ...
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http://en.wikipedia.org/wiki/Asset-based_lending
The practice of making loans that use assets such as receivables and inventory as collateral for the loan. In asset-based lending, the quality of the collateral becomes preeminent in determining the creditworthiness of the customer.
Found on
http://www.lectlaw.com/def/a108.htm
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