Glossary of Terms

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Asset-Based Loan

A secured business loan in which the borrower pledges as collateral any or all of the assets used in the conduct of its business. In equipment finance, sometimes categorized as a type of asset-based finance, the asset could be virtually any capital asset, including a computer, furniture, fixtures, facilities, aircraft, vessels, rail cars, vehicles and software. (Courtesy www.elfaonline.org)

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