During 2012, the largest surge in loan value seen by borro was a 244 per cent increase against vintage wine collections. borro also saw a 22 per cent increase in the loan value of fine art over the same period.
The unique and eclectic mix of high value assets from 2012 in the borro vaults includes…
- A collection of French porcelains (loan value of £160,000)
- 1 x Round brilliant cut single stone ring set (£100,000)
- Rolls Royce Ghost (£95,000)
- Stamp collection (£81,000)
- Collection of Château d’Yquem (£75,000)
- Porsche Cayenne Turbo (£60,000)
- Lamborghini 400 (£60,000)
- Sapphire and diamond bracelet (£51,000)
- 2 x Fine Gold bars (£50,000)
- A platinum and Diamond wristwatch by Christopher (£50,000)
Overall, borro saw a 122 per cent increase 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) rose 41 per cent, from £17,000 to £24,000 since last year.
Paul Aitken, CEO says:
“2012 was the year the nation turned to alternative forms of lending despite various initiatives designed to breathe life back into the lending market, particularly for SMEs. As a result, an increasing number of people 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."
