LOAN PRODUCTS
Use your luxury asset as collateral for either a short-term loan or ongoing line of credit
A Short-Term Loan to Meet a Current Financial Deadline
Borro’s standard loan product is the Luxury Collateral Loan. It is a short-term loan that provides you with a specific amount of capital in exchange for one or more luxury assets that are securely stored as collateral until the loan is repaid. Interest is paid monthly on the loan balance at a fixed interest rate.
Features
- Funding in 1-3 business days
- No personal guarantee, credit check or lengthy paperwork*
- Loan amounts from $2500-$5,000,000
Benefits
- Fast funding to address a situation or meet an opportunity
- Flexible terms to suit your specific needs
- Effective alternative to selling your asset
HOW IT WORKS
Determine which type of Borro loan best meets your needs and apply by phone, online, or in-person.
Send us or drop off your luxury asset for expert valuation and final loan offer.
Review and accept your loan offer.
Receive your funds upon acceptance.
Pay off your loan and interest and we return your luxury asset. If you wish, you can keep it with us and open a Luxury Line of Credit Account.
A Revolving Line of Credit For Ongoing, Immediate Access to Capital
Borro’s Luxury Line of Credit is the loan product for clients who require ongoing, same-day access to capital. The credit line is based on our valuation of one more luxury assets that are securely stored as collateral at no cost** as long as your Luxury Line of Credit account is in effect. Interest is paid monthly on loan balance at a fixed interest rate.
Features
- Immediate funding after account setup
- No personal guarantee, credit check or lengthy paperwork*
- Credit lines up to $5,000,000
Benefits
- Apply once, revolve credit line to borrow multiple times
- Same day access to capital through just a phone call
- Free secure storage of your asset**
* real-estate and assets with a title may require additional documentation
** except automobiles and very large size assets
HOW IT WORKS
Determine which type of Borro loan best meets your needs and apply by phone, online, or in-person.
Send us or drop off your luxury asset for expert valuation and final loan offer.
Review and accept your luxury line of credit offer.
Access credit line at any time upon acceptance.
Pay down your credit line principal and interest, we retain your luxury asset as long as your account is open. Revolve the line as needed.
Pay off your loan and interest and close your account, we return your luxury asset.
Caring For & Keeping Assets Safe is Our Top Priority
With Borro, you can be confident in the exceptional security, care and handling of luxury assets during transport, valuation and storage. We insure your assets from when you ship or bring it to us, during storage in our vault, and on its way back to you. You can securely ship your asset via FedEx or private courier, or if you prefer, bring it to our New York or Denver office. In the case of certain assets such as luxury & classic cars, we will come to you.
Your Assets are Secure and Fully Insured with Borro.
A Trusted Steward. Over 15,000 clients have trusted Borro to safely store and return their luxury assets.
Licensed & Regulated. Borro is licensed and regulated by the laws of Colorado and New York.
Ultra-Secure Asset Storage. Borro uses advanced protocols for asset handling and tracking, and our vaults are among the most secure.
Insurance. Assets are insured on their way to us, while in storage, and during shipment back to our clients.
GET A LOAN ESTIMATE
Please answer the questions below for a preliminary estimate based on your asset category.
By clicking “ESTIMATE MY LOAN AMOUNT” above, I UNDERSTAND and AGREE that the range displayed on the following page is based solely on the value I inputted. Borro is not bound in any way to the range displayed on the following page and the actual loan value will be determined based on in-person valuation by our experts. This is nothing more than a calculation based on the data inputted by me.
CONTACT US
- 212.776.1020
New York Office – Midtown Manhattan
110 W 40th Street
New York, NY 10018
