Collateral loans are a reliable, fast, easy, and efficient way to access cash through a short-term loan. Unlike loans from traditional financial services providers, this type of loan requires no credit check or financial disclosures, and transactions typically take only a day or two to complete. A borrower’s low credit score or poor credit history does not enter into the approval process for a collateral loan – what matters is the value of the asset or assets a borrower is using for collateral. Consumers who own luxury assets can benefit from this flexible and convenient funding option provided by lenders including Borro, using them as collateral to secure their loan. Knowing about collateral loans provides peace of mind because they provide additional funding options at moments when cash needs are unexpected or urgent. Borro’s team of accredited luxury asset experts and financing specialists tailors collateral loans to meet with individual needs, making Borro a trusted financial services provider to over 15,000 clients, providing over $450 million in loans since 2008.
Luxury Assets accepted as collateral for a Borro collateral loan include collectible and classic automobiles, luxury watches, fine jewelry and diamonds, designer handbags and accessories, gold and precious metals, other auction-quality assets, luxury real estate, and guaranteed sports and entertainment contracts. Collateral loans enable people to tap the equity of these assets without selling them.
Anyone who owns one or more luxury assets is eligible for a Borro collateral loan and there are no financial requirements or credit history disclosures. This type of loan is designed to help people face situations where they can quickly and easily gain access to capital through a short-term loan whenever they need it.
For example, a woman who was going through a highly contentious divorce proceeding one day found that her soon-to-be ex-husband had frozen her out of the family’s financial resources, leaving her unable to retain the attorney she wanted. She contacted Borro and in only three days obtained a $90,000 short-term loan using her diamond engagement ring, a luxury watch and a diamond necklace as collateral. As a result, she was able to retain her chosen divorce lawyer at a pivotal stage of a significant transition in her life. After assets and funds were awarded in the divorce settlement, the Borro loan was repaid and the client’s assets were returned.
Borro, a Luxury Asset Capital brand, is the leader in confidential loans that use the borrower’s luxury assets as collateral. We are a timely alternative to traditional loans that are often either too slow, invasive &and burdensome, or, in some cases, unavailable. We unlock the equity in a wide range of luxury assets that are high in value but low in liquidity and execute transactions from thousands to millions of dollars in as little as one business day.
We were established to provide capital to individuals at critical moments because we can be trusted to move quickly and confidentially to meet individual and business financial deadlines. We have been a lender to over 15,000 clients, providing over $450 million in loans since our founding over a decade ago. Borro’s industry-standard-setting levels of transparency, convenience, and service are making Borro the leader in trusted, alternative loan solutions.
For more information, please visit: https://borro.com/collateral-loan/