This Practice Note is an overview of typical financing structures adopted by UK asset-based lenders. It provides a summary of the key legal issues that arise in relation to receivables financing (usually by means of an invoice discounting facility or factoring facility), as well as inventory financing, plant and machinery financing and real estate financing. It also considers the types of security which are taken in asset-based lending (ABL) transactions, the use of fixed and floating charges, non-vesting debts in receivables purchases and intercreditor issues.