Academic journal article ABA Banking Journal

Take Asset-Based Financing on the Web

Academic journal article ABA Banking Journal

Take Asset-Based Financing on the Web

Article excerpt

Providing risk management and workflow solutions since 1995, Capital Stream, Inc., Seattle, already works with hundreds of customers including Mellon Bank and Trinity Capital as well as Admiralty Leasing, Provident Capital, and hundreds of financial intermediaries on the demand side of the market. Now, the company also offers a hosted e-commerce portal designed to simplify asset-based financing for financing companies, banks, manufacturers, and B2B e-commerce firms.

The estimated $3 trillion business finance market offers eye-opening opportunity but, in its fragmented state, poses huge snags as well. An estimated 146,000 sources of capital have no consistent, efficient automated channel between them. The market is also extremely inefficient, with up to 900 basis-point fees charged, and a processing time of up to three weeks for deals involving sums greater than $250,000.

To attempt to tame all that paper and bring costs down, Capital Stream--the hosted web transaction service that bears the company's name--was designed to replace the mostly fax and phone method with an easy-to-navigate portal. Early users of the new Capital Stream portal include 43 existing customers and 570 software customers. …

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