Small Business Borrowing Continues to Decline NEW YORK – April 2, 2013 - Paul Aitken CEO of Personal Asset Lender, borro, comments on findings from the Thomson Reuters and PayNet study: “Small business owners are not willing to extend themselves further into debt without more assurances of an economic recovery and stability. The macroeconomic picture shows indications that the recovery should be on its way, but small business owners don’t share that same sentiment.” Aitken continued, “The consequence of accumulating too much debt has become more than people are willing to accept. Personal asset lending continues to be a favorable option as it avoids the potential pitfall of damaging credit scores. This is the reason why a growing number of individuals and small business owners come to borro.”
### About borro Paul Aitken is the CEO of borro, a personal asset lender which offers both individuals and small business owners loans against high-value personal assets. Loans are provided against luxury cars and watches, diamond jewelry, fine art, antiques and more. Loan values are determined by expert appraisers with over 100 years of combined experience from the top auction houses. With borro there are no credit checks and money is received within 24 hours. The service can be completed online, or in-person and borro will lend $1,000 to $1,000,000 depending on the asset. For more information about borro’s personal asset loans, please visit www.borro.com.
borro provides loans of $1,000 – $1,000,000 secured against personal assets including jewelry, luxury watches, gold, fine art, antiques, luxury cars, fine wine and other high value assets. borro’s valuation experts have over 100 years combined experience from the leading auction houses, including Sotheby’s, Christie’s, and Bonhams. All assets are stored in secure and insured specialist vaults/premises. Fine art and antiques are stored at fine art storage specialists and luxury cars are stored in a dehumidified and climate controlled premises. borro offers appointments at their valuation center, home visits, and various premium collection options including same day couriers. All these services are fully insured and provided for by borro.
All assets are fully insured whilst in storage with borro for the duration of the loan. Founded by Paul Aitken in 2008, borro’s investors include Canaan Partners, Ribbit Capital, Augmentum Capital, European Founders Fund, Eden Ventures and Octopus Investments. These companies have invested in Match.com, Lending Club, LinkedIn, We7, Betfair, Egg, Sportingbet, Facebook, and more. borro is a registered trademark of Borro Limited. borro is licensed by the City of New York under the Collateral Loan Brokers Law, Article 5 of the New York General Business Law, license number 1412743.
For more information contact: Gibbs & Soell, 212-697-2600 Kyle Kuhnel:
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