Will my business lose control over assets used as collateral?

No, your business does not lose control over assets used as collateral in an asset-based lending (ABL) arrangement. ABL is structured to provide financing while using your assets as security—your assets act as collateral to back the loan. Once the loan is fully repaid, only then do you fully own the asset.
The lender’s interest is in securing the loan by having a claim to your assets if there’s a default. This means that as long as you meet the terms of the lending agreement, you continue to manage and utilise the collateral assets to drive your business forward. Your control over your assets remains intact, and you’re responsible for their maintenance and upkeep.