Running a small business is rarely predictable. Situations can arise – opportunities for expansion, urgent equipment needs, building repairs, among others -that require significant amounts of capital on short notice. You may consider a traditional business loan, but it can be difficult to come by in this volatile market. Now there is an alternative option – luxury asset-backed lending. Borro is the leading online platform for luxury asset-backed lending.
Borro offers three options for you to privately borrow up to £2,000,000. The Bridging Loan (Representative APR: 50.9%) allows you to secure a short-term loan using assets such as luxury watches, jewellery, prestige and classic cars, fine art and more. If you are looking to sell your luxury assets, Borro will manage the sale while providing funds upfront with the Sale Advance Loan (Representative APR: 18.8%). No business financials or credit checks are needed to execute any of the Borro loans.
Our third option is our recently launched Term Loan, which is available to high-net-worth individuals looking to borrow £100,000 or more for periods of 18, 24 or 36 months and monthly interest rates starting at 0.75%.
If you’re wondering under which circumstances people typically take out loans with Borro, it’s rarely due to financial distress. Especially in today’s economy, opportunities arise with short lead times and only limited windows of participation. Individuals of means—many of whom have spent years building their net worth and whose wealth is tied up in stocks, real estate and various expensive possessions—need funds quickly in order to take part. Borro’s lending platform gives them the flexibility they need to capitalize on an opportunity, realize their financial gain, and repay the loan with profit left over.
With luxury asset-backed lending, you have an avenue beyond banks, friends and family for obtaining business capital quickly. Moreover, your valuable and treasured assets remain secure. Loans with Borro are fast, convenient and private. As one of the most innovative solutions around, they can help you achieve your financial goals and objectives, on your terms.
If you’d like to learn more about luxury asset-backed lending, give Borro a call at 0808 250 2058 or start applying online here.
A Bridging Loan is not a long-term financial solution. In the event that you are unable to repay your loan to Borro, the asset(s) that you used to secure your loan may be sold, in order to recover the outstanding loan balance, according to the terms and conditions of your signed loan agreement.