For immediate release: XX November 2011
BORRO REVEALS TOP 10 REASONS FOR LENDING AGAINST YOUR ASSETS borro sees 215% increase in customers borrowing against personal assets versus
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last year •
23% of people using borro to Facilitate a business transaction or opportunity •
Top 10 reasons why people use the UK’s leading personal asset lender
Strict lending criteria has meant that individuals are currently unable to access finance through more traditional means. In the past year borro, the UK’s fastest growing personal asset lender, has seen a 215% increase in the number of customers borrowing against their personal assets. Offering loans of £1,000 to £1,000,000 against luxury watches, jewellery, fine art, antiques, prestige cars and more, borro has identified the top ten reasons why customers use their service to secure finance against their personal assets. Top 10 reasons for using borro 1 - Facilitate a business transaction or opportunity (23%) 2 - Top up / Bridging finance (14%) 3 - Personal Cash flow issues (13%) 4 - Holidays (11%) 5 - Unexpected bills and fees (11%) 6 - Surveys and other fees relating to property refinancing (10%) 7 - Supporting an irregular income (8%)
8 - Paying tax bills (5%) 9 - School fees (3%) 10 - Funding for probate (2%) Paul Aitken, CEO of borro, comments: “People are undoubtedly looking at alternative ways to access finance. The reasons are broad and include facilitating a business opportunity to solving cash flow issues in their business or paying for their child’s school fees.” “Many people are realising that they have collected an array of valuable personal assets that they can use to raise funds without lengthy bank processes or putting property up as a guarantee. The majority of our customers come back and redeem their assets demonstrating the risk free and efficient service we provide.” Founded in 2008 by Paul Aitken, borro has become the fastest growing personal asset lender in the UK, and was recently named the Alternative Lender of the Year by ‘Credit Today’ magazine. A transaction with borro is transparent, with all rates and processes made clear from the outset. Loans can be redeemed at any time without penalty.
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For further information please contact: Lansons PR –
[email protected] / 0207 294 3678
Notes to Editors: About borro.com • borro is the leading personal asset lender in the UK. Loans of up to £1,000,000 can be offered against assets including luxury watches, jewellery, gold, fine art, antiques, prestige cars, yachts, fine wine collections and other high value assets. •
All of borro’s valuation experts have worked for leading auction houses, including Sotheby’s, Christie’s, and Bonhams.
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All assets are stored in secure and insured specialist vaults/premises. Most assets are stored thirty feet underground under time lock at a prestigious 120 year old storage facility in central London. Fine art, sculptures and antiques are stored at fine art storage specialists and luxury cars are stored in air conditioned premises and delivered back with a full valet.
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borro offers appointments at their valuation centre, home visits, and various premium collection options including same day couriers. All these services are fully insured and provided for by borro.
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All assets are fully insured whilst in storage with borro for the duration of the loan.
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Founded by Paul Aitken in 2008, borro’s investors include Octopus Investments, Augmentum Capital, Kreos Capital, European Founders Fund and Eden Ventures. These companies have invested in Lovefilm, moo, touchlocal, Facebook, LinkedIn, Alando.de, Jamba!, Apertio, Truphone, We7 and more.
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Borro Limited has a Consumer Credit Licence issued under Number 620035, and is regulated by The Office of Fair Trading. BORRO Limited’s registered address is Seebeck House, One Seebeck Place, Knowlhill, Milton Keynes, Buckinghamshire, MK5 8FR and the company registration number is 6573695.
