Borro closes its largest luxury asset loan – £6m secured by art
Borro, the leader in fast, secured lending to wealthy clients has closed a £6,000,000 loan. A small collection of blue chip Post-War and Contemporary pieces by American artists was brought to Borro by a client looking to refinance an existing loan. Borro was able to offer the client additional funds and more flexible exit terms. The client was referred to Borro by a regular partner.
‘I’m happy with the progress the business made in 2015 and 2016,’ said Paul Aitken, CEO & Founder, ‘Launching property lending, our turnaround in operating profit, and FCA Regulation across our UK products were all significant milestones for Borro.’
‘Now we have begun 2017 with our largest Luxury Asset loan ever and delivered 30% growth in Q1. I expect us to continue the year as we have begun.’