NEW YORK, Oct. 7, 2013 /PRNewswire/ -- Leading personal asset lender borro® has announced a revolutionary new sale advance loan program, allowing borrowers to maximize both their immediate liquidity and final sale price. It is rare for a company to offer such a "best of both worlds" program, but borro's sale advance loan program is exactly that.
This product is for people who may be thinking about selling an asset – such as jewelry, luxury cars, fine art and antiques, fine wine, and more – but who also don't want to sell the asset right now. In this case, borro steps in with an immediate loan against the asset. borro holds the asset securely and then helps the client sell at the right price and time, and in the right channel.
"Often, we have clients who want to sell an item through auction, or through a private transaction," said Paul Aitken, borro CEO. "This can be a long process. Navigating around all the auction houses and sites that specialize in different categories, finding private buyers; it's all too time consuming and challenging. borro offers the expertise and knowledge that allows our clients to maximize the sale price of their asset by placing it in the best fitting channel of sale – which might not occur for months after the decision to sell has been made."
Some types of assets are only auctioned at the most prominent auction houses two to four times a year. borro's revolutionary program allows a client to realize a cash value immediately without forcing the client to sell off an asset before the market is offering top dollar for the particular item.
For this valuable service, borro offers the sale advance loan for impressively low monthly interest fees and then charges a percentage of the sale price as a fee to help sell it.
To find out more about borro's award-winning, on-demand personal asset lending service visit www.borro.com.
borro is a personal asset lender which offers small-business owners, entrepreneurs and high-net worth individuals liquidity against luxury personal assets such as watches, jewelry, prestige and classic cars, fine art and antiques. Loan values are determined by expert appraisers with over 100 years of combined experience from the top auction houses. With borro there are no credit checks and money is received within 24 hours. The service can be completed online, or in-person and borro will lend $1,000 to $1,000,000 depending on the asset.
- All assets are stored in secure and insured specialist vaults/premises. Fine art and antiques are stored at fine art storage specialists and luxury cars are stored in a dehumidified and climate controlled premises.
- borro offers appointments at their valuation center, home visits, and various premium collection options including same day couriers. All these services are fully insured and provided for by borro.
- All assets are fully insured whilst in storage with borro for the duration of the loan.
- Founded by Paul Aitken in 2008, borro's investors include Canaan Partners, Ribbit Capital, Augmentum Capital, European Founders Fund, Eden Ventures and Octopus Investments. These companies have invested in Match.com, Lending Club, LinkedIn, Betfair, Egg, Sportingbet, Facebook, and more.
- borro is a registered trademark of borro Limited.
- borro is licensed by the City of New York under the Collateral Loan Brokers Law, Article 5 of the New York General Business Law, license number 1412743.