Asset Based Lending
An innovative and highly flexible financing alternative
Economic cycles, global competition and commodity price volatility can create special challenges for companies that manufacture, distribute or retail a broad range of products. We work directly with you to develop financing solutions that address your operating needs and support your strategic goals at every stage of the economic cycle.
Our experienced professionals take an advisory approach, looking at your company's entire capital structure to identify the best means of leveraging its assets. By performing this analysis up-front, we are able to provide capital market and secured lending solutions that address your operating needs and help you capitalize on growth opportunities.
Our team of finance professionals offer a full complement of asset based lending solutions to companies throughout Canada, with a transparent link to the U.S. market, through Harris Bank (our U.S.-based banking arm) for your cross-border requirements. Whether you need funding for acquisitions, a turnaround, recapitalization or to meet seasonal working capital requirements, you can count on us to meet our commitments and help you achieve your objectives.
BMO Bank of Montreal's Asset Based Lending group provides mid-market private to large public companies with committed revolving lines of credit and term loans from $10 million, with higher advance rates than loans normally made by other banks and with no leverage covenant.
Our full service offering combines the benefits of asset based lending with the full suite of BMO products – a combination not available from other ABL providers.
Our team of experienced corporate finance professionals located in Vancouver, Calgary, Edmonton, Toronto, Montreal and Halifax work hard to meet your financial needs.
Products and Services
BMO Bank of Montreal's Asset Based Lending group provides mid-market private to large public companies, who are experiencing periods of change, with an alternative to traditional senior debt, which may be accessed along with, or instead of, subordinated debt and/or equity. Through Asset Based Lending, the value of your company's assets give you the power to secure structured financing, generally with higher advance rates than loans normally made by banks:
Revolving lines of Credit
with advance rates, determined by your organization's assetsTerm Loans
supported by machinery, equipment and real estateUnder-secured/cash flow supported loans
which allow you access of up to 125% of asset valueCapital Expenditure Loans
supported by newly purchased machinery and equipmentAsset Based Lending may be right for your business if it has:
- $30+ million in revenues
- Strong management with a sound business plan
- Reliable MIS and financial control systems
- Any of these characteristics: moderately to highly levered; experiencing high growth; undergoing a change in ownership; capital intensive; inconsistent but explainable financial performance; and/or some what seasonal in nature.
Asset Based Lending is the right financial solution for:
- Acquisitions/buyouts
- Financial sponsor transactions
- Recapitalizations
- Re-financings
- Growth
- Turnarounds
- Succession planning
- Cash-out financing
Portfolio
Transaction Summaries.
Contact Us
How to contact our team and offices.
Michael Kenney
Managing Director and Group Head
michael.kenney@bmo.com
Michael Kenney is the Managing Director & Head of Asset Based Lending for BMO Bank of Montreal. He has over 20 years of experience in the mid-market financing sector.
Michael has responsibility for the Asset Based Lending business of BMO Bank of Montreal in Canada. Prior to joining BMO, Michael worked for the Canadian subsidiaries of two different US based commercial finance companies – Congress/Wachovia & FINOVA Capital. His experience includes Asset Based Lending, Mezzanine Loan Lending and Cash Flow Lending. Prior experience also includes traditional mid-market finance for The Toronto Dominion Bank, where he performed a variety of senior roles including regional commercial market management, head of corporate credit audit and credit adjudication.
Michael is a graduate of the University of Toronto, and is a member of the Turnaround Management Association, Commercial Finance Association, Canadian Venture Capital Association & the Association for Corporate Growth. Michael joined BMO Bank of Montreal in June 2004.
Jeff Burdon
Managing Director, Business Development
Ontario
jeff.burdon@bmo.com
Nick Bassi
Managing Director, Business Development
Ontario
nick.bassi@bmo.com
Theodora Stavropoulos
Managing Director, Business Development
Quebec and Atlantic
theodora.stavropoulos@bmo.com
Vish Bhatia
Managing Director, Business Development
Prairies
vishesh.bhatia@bmo.com
Neil Hershcovitch
Managing Director, Business Development
British Columbia
neil.hershcovitch@bmo.com
| Offices: | |
|---|---|
| Toronto Head Office | First Canadian Place 100 King Street West, 11th Floor Toronto, Ontario M5X 1A1 |
| Montreal | 105 rue Saint-Jacques 3rd Floor Montreal, Quebec H2Y 1L6 |
| Calgary | First Canadian Centre 350-7th Avenue S.W., 9th Floor Calgary, Alberta T2P 3N9 |
| Vancouver | First Bank Tower 595 Burrard Street, 6th Floor Vancouver, British Columbia V7X 1L7 |
