What is the definition of Asset-based loan? | Dictionary.net

ASSET-BASED LOAN

\ˈasɛtbˈe͡ɪst lˈə͡ʊn], \ˈasɛtbˈe‍ɪst lˈə‍ʊn], \ˈa_s_ɛ_t_b_ˈeɪ_s_t l_ˈəʊ_n]\

Definitions of ASSET-BASED LOAN

1910 - Black's Law Dictionary (2nd edition)

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A RECOURSE or NONRECOURSE LOAN granted by a BANK to a customer for use in acquiring INVENTORY, machinery, equipment, or other fixed ASSETS (apart from real estate). The underlying asset is often used to secure the loan.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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