Key player in Comprehensive Asset Based Lending (CABL) in the UK and USA
Established in 1992, Burdale has offices in London, Manchester, Birmingham, Stamford, Connecticut and New York.
CABL is senior debt provided and secured against all the assets of a business in a single structured funding package. Assets can include land and buildings, plant and machinery, in addition to the traditional loan collateral of stock (inventory) and debtors (accounts receivable). In some cases, intangible assets such as brands or goodwill may also be taken into account. CABL is therefore more akin to a multi-asset borrowing base facility and differs from plain vanilla single-asset finance such as invoice discounting or stock finance.
This approach allows companies with a strong asset base to provide a greater level of security to the lender. As a result, finance can be raised in excess of that which would normally be advanced by conventional lenders, and at generally more attractive terms. In turn, as the CABL lender is usually secured across all aspects of the business, they will be interested in its success as a whole, rather than just concentrating on cash flow or ease of realisation of a specific asset.
The Burdale funding process involves six broad stages which in many instances can be run concurrently. The typical timescale for the process would be four to six weeks.
Burdale is a wholly owned subsidiary of the Bank of Ireland Group. Bank of Ireland is regulated by the Financial Regulator in Ireland and authorised by and subject to limited regulation by the Financial Services Authority.