Easy and effective access to capital when needed to help people solve problems, seize opportunities and achieve their dreams. While traditional financial institutions can meet many of the financial needs of most affluent individuals and families, they often fall short when people need five to seven figures in a short period of time, or when individuals are highly leveraged, or both. For owners of luxury assets (especially replica watches), Borro is a specialized financial services provider that fills these gaps with confidential non-bank loans and lines of credit that can be financed almost immediately. Borro simply pledges one or more of the borrower’s luxury assets as collateral and also provides inventory loans to dealers in the luxury trade.
Luxury assets can yield substantial returns. However, unlocking their equity through a private sale or auction takes a lot of time and effort. Borro makes it easy to realize the true value of your replica watch or collection without waiting and, more importantly, without selling.
Borro’s lending process is highly personalized, beginning with a discussion with a Borro specialist about the amount of funding required and the assets to be used as collateral, either by phone, email, or by private appointment at the company’s New York City or Denver offices. Based on the discussion, a verbal loan offer is made based on the final valuation of the collateral. From there, the assets are securely shipped to Borro for valuation and a final loan agreement is provided for signature. Upon receipt of the executed loan agreement, the proceeds of the loan are remitted to the client’s designated bank account. Once the loan is paid off, the client’s assets are returned.
Borro provides exceptional security, care, and handling of luxury assets during the transportation, valuation, and storage process. Assets are insured from the time they are shipped or brought to Borro’s facilities, stored in its vaults until they are returned after the loan is paid. Borro uses advanced protocols to handle and track assets, and its vaults are the most secure available.
Burke concludes, “Even people with significant incomes and high net worths run into situations where traditional funding sources are too slow, too cumbersome, or too onerous to even address a situation or meet an opportunity. There are a lot of lenders out there; for our clients, it’s about time, trust, and flexibility to structure something to meet their individual needs.”