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By Shaun Ryan

A new asset lender has taken up residence in Ponte Vedra Beach.

Sawgrass Finance LLC is a lender that will provide lines of credit of up to $ 3 million to small and medium businesses by leveraging their assets, such as accounts receivable, inventory, machinery and equipment.

Each line of credit is customized to meet the needs of each business, while taking into account business cycles, seasonality, customer base, etc.

Asset loans are ideal when businesses are unable to secure traditional bank financing, are experiencing rapid growth, need seasonal housing, are looking for flexible capital, or need to increase their current financing facility.

Sawgrass Finance, while being a national lender, strives to help local businesses find and use this type of financing.

According to co-founder and president Marius Dobren, his company understands that the current pandemic has reduced local funding options.

“All businesses have been affected by COVID-19, especially small and medium-sized businesses,” he said. “We’re here to provide solutions to these businesses and give them a chance to succeed. “

Dobren said plans for Sawgrass Finance were in the works before the pandemic hit, but stressed the value of such a venture at such a time.

“It’s a fantastic product in the normal course of business, but it’s a great product during a crisis like this,” he said.

Sawgrass Finance co-founder and chief credit officer Vadim Toyberman explained why.

“Loans on Assets (ABL) are always in demand, but especially when there are uncertainties like the ones we are currently experiencing with the pandemic,” he said. “At times like this, banks tighten their credit standards, making it almost impossible for a small business to get a loan. In addition, stricter credit criteria cause many existing bank borrowers to exit because they no longer fit the box. These small businesses are drawn to asset lenders primarily because ABL is relationship lending, and we’ll never pull an umbrella over customers’ heads when it rains.

The company places special emphasis on companies with some form of B2B transaction, which means they sell to other companies. Examples can be manufacturers, distributors, importers, wholesalers, service providers, technology and healthcare.

Sawgrass Finance is a local boutique and convenient loan company that brings new ideas and financing solutions to small and medium businesses.

The company provides access to capital with a primary focus on financing long-term growth. Sawgrass Finance’s senior management team has over 30 years of combined experience in asset-based lending.

Sawgrass Finance has been open for business since June. National lender, the company’s headquarters are located at 822 A1A N., Suite 310, Ponte Vedra Beach. The business phone number is 904-834-1076.

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