Borro has revealed the main types of assets used by clients to access liquidity last year.
The personal asset lender saw a 122% rise in funded loans for 2012, compared to the same period in 2011.
The average loan value for 2012 increased to £7,000 (up from £3,500 in 2011) and the average loan value to SMEs (who make up the majority of borro’s loan book) increased by 41%, from £17,000 to £24,000 since last year.
10 main types of assets used by borro clients in 2012:
Ten main types of assets used by borro clients in 2012:
Asset | For example… |
Jewellery | 1950’s sapphire and diamond ear clips (loan value £25,150) |
Watches | 18ct white gold Cartier Ballon Blue watch (loan value £35,000) |
Gold | Two fine gold bars (loan value £50,000) |
Fine Art | A Henry Moore sculpture (loan value £50,000) |
Antiques | A collection of French porcelains (loan value £160,000) |
Luxury Cars | Lamborghini 400 (loan value £60,000) |
Wedding Gold | Collection of 22ct gold jewellery (loan value £40,000) |
Diamonds | Single stone marquise cut diamond ring, approx. 5 carats (loan value £89,000) |
Wine | A case of Château Petrus 1982 (loan value £16,000) |
Antique Silver | Silver contemporary Faberge egg (loan value £5,000) |
“During 2012, in a climate where loans from traditional sources were few and far between, we saw clients using a range of high value assets to unlock necessary finance,” said Paul Aitken (pictured), CEO of borro.
“An increasing number of individuals, entrepreneurs and small business owners recognise they have accumulated a wealth of personal assets that can temporarily be turned back into cash, quickly and easily.
“For small business owners and SMEs this is especially important when needing to realise a business opportunity that would not have otherwise been possible. The continuing growing demand for our service just goes to show that alternative forms of financing are becoming more mainstream.”
