Asset-based lenders are poised to thrive in the current economy, especially if they stay flexible, McGuireWoods Pittsburgh office managing partner Penny Zacharias said in the cover story of the January/February 2024 issue of The Secured Lender.
In the article, “Secured Financing Executives Predicting Modest Growth in 2024,” secured lenders said they expect a profitable year after a bumpy 2023. U.S. GDP increased 5.2% in the third quarter of 2023, signaling a boost in business investment.
Zacharias, a debt finance lawyer, said there are many reasons to be optimistic about asset-based lending in 2024. Companies hope to grow their businesses and seek credit, and most have shored up their balance sheets since the pandemic.
“People are eager to pursue growth in their businesses, and lenders have a huge opportunity as capital providers to add value,” Zacharias said. “I believe they have a prime chance to showcase their expertise and demonstrate how their solutions can profoundly benefit a business.”