Borro has agreed a deal with Wellers, the Chertsey and Guildford based auctioneers and valuers.
Wellers will offer short-term personal asset loans funded by borro, to their vendor and buyer client base. Products include consignment loans for those looking to raise capital by selling private assets at auction.
Borro will lend up to 70% of the value of the items pledged through Wellers with preferential rates starting from 2.49% a month. There are no early redemption fees, and clients can borrow between £1,000 and £1 million.
Chris Sykes, managing director of Wellers Auctioneers, said: “The partnership we have with borro has arrived at a particularly testing time in the financial cycle. It is an extremely useful and unique solution that we can now offer to both our vendor and buyer clients.
“At Wellers, we are constantly recognising the need to offer alternative services in this rapidly evolving sector and we are excited about this added opportunity.”
“We are delighted to have formed this partnership with Wellers,” said Claire Gates (pictured), managing director at borro.
“Our service will provide an additional lending resource to their clients at a time when conventional sources are unwilling or unable to help or while they’re waiting to sell.
“Wellers’ experts have a strong awareness of current trends in the jewellery, fine art, gold, diamonds and watches markets and we look forward to working with them.”