- 567% increase in the value of intermediary referred loans in the first six months of 2012
borro has revealed a 55% increase in intermediary sign-ups in the first half of 2012. borro now has almost 3,000 intermediaries signed up to its Introducer programme. Their data also shows a 567% increase in the value of business from intermediaries in the first eight months of 2012 compared to the same period in 2011.
Offering loans of £1,000 to £1,000,000, against valuables including luxury watches, jewellery, fine art, antiques, prestige cars and more, borro's Introducer programme allows intermediaries to provide finance against their client's personal assets.
Paul Aitken, CEO of borro, comments:
"Despite certain banks reducing their lending rates, and the Bank of England encouraging lending to firms, it's still proving hard for businesses and individuals to access finance. Many intermediaries have recognised that valuable personal assets can be used in certain circumstances to raise funds without lengthy bank processes or utilising property as a guarantee.
"Financial advisers and wealth managers are becoming more aware that borro can offer their clients an alternative, fast and transparent lending channel. Having in-house valuation experts allows us to value assets accurately, and provide intermediaries with the best loan value for their clients."
