Borro introduces inventory lending product to luxury goods trade
DENVER – (COMMERCIAL THREAD) –Borro™, the leading provider of non-bank confidential loans that use borrowers’ luxury assets as collateral, today announced the introduction of the Borro Luxury Inventory Loan product to provide working capital to luxury goods retailers, wholesalers, traders, manufacturers and other businesses. members. Borro Luxury Inventory Loans allow businesses in the luxury goods trade to use current inventory including luxury watches, quality jewelry, certified loose diamonds, gold and silver bullion. , luxury handbags and accessories, luxury and classic cars, and assets bought or sold through a premier auction. home as collateral for loans ranging in amount from $ 2,500 to $ 5,000,000 or more. Borro luxury inventory loans have fixed interest rates and are available as a standard short-term loan or line of credit.
“The luxury goods industry was essentially shut down during the pandemic – particularly in brick and mortar retail – due to its non-essential characterization by governments. As these restrictions begin to lift in parts of the country, the recovery of this sector will take time, and many companies will need operating capital to bridge the gap until it does, ”he said. said Dewey Burke, founder and CEO of Luxury. Asset Capital, the parent company of Borro. “Borro’s luxury inventory loans allow them to leverage the equity in their current inventory to cover salaries, rent, insurance, and other operating expenses that have not gone away while income is reduced, and are an attractive alternative to selling inventory at a loss. ”
Borro’s luxury inventory loans require virtually no paperwork, no credit checks, no long waiting periods, no individual or business income information, or a personal guarantee. Transactions can be completed in just one business day. Borro offers exceptional security, care and management of luxury goods during transport, appraisal and storage. Assets are insured from the time they are shipped or brought to a Borro facility, during storage in our vaults and until returned after a loan has been paid off. Borro uses advanced protocols for asset management and tracking, and our safes are among the most secure available. Assets can be shipped securely via FedEx or private courier or delivered directly to our New York or Denver offices. In the case of certain assets such as luxury and classic cars, Borro’s valuation experts go to where the asset is located. Borro does business throughout America and is licensed and regulated by the laws of Colorado and New York.
Borro provides liquidity ranging from thousands to millions of dollars in exchange for high-value but illiquid assets. Luxury jewelry assets accepted as collateral include certified white or colored diamonds, certified gemstones including emeralds, sapphires and rubies, estate jewelry and fine jewelry in the form of rings, bracelets, necklaces , pendants, brooches, earrings and more, from brands such as Harry Winston, Cartier, Van Cleef & Arpels, Mikimoto, Tiffany, Bulgari. Luxury watch brands accepted as warranty include, but are not limited to, Rolex, Patek Philippe, Audemars Piguet, A. Lange & Söhne, Hublot, Richard Mille, Cartier, Omega and Piaget. Borro’s experts are ready to help clients seize opportunities and manage situations by providing them with quick access to capital.
For more information on Borro inventory loans, please visit: https://borro.com/inventory-loan/
Borro, a brand of Luxury Asset Capital, is the leading provider of non-bank confidential loans that use borrowers’ luxury assets as collateral. Luxury Asset Capital and its brands have funded more than $ 450,000,000 in loans for 15,000 clients since its inception. We are a compelling alternative to selling luxury assets or traditional financing channels that are often either too slow, invasive and cumbersome, or in some cases unavailable. We unlock equity in a wide range of high-value but illiquid luxury assets and execute transactions ranging from thousands to millions of dollars in just one business day. For more information, please visit borro.com. For more information on Luxury Asset Capital, Borro’s parent company, please visit Luxuryassetcapital.com.