In today’s unforgiving credit climate and economic downturn, there are fewer and fewer ways to gain capital. Consumers and small business owners in need to relatively quick, short-term cash are looking to alternative avenues outside traditional financing channels.
Borro, a leading luxury asset lender, gained instantaneous population among small business owners, who make up over half of their clientele. Borro accepts luxury goods as collateral for up to 70 percent of its value. The process can be completed in less than 24 hours without a background or credit check, helping to solve an immediate cash flow need. To date, Borro has funded nearly $200M transactions.