Short term asset loan provider borro has announced its first ever £1 million loan, secured against a fine art collection.

The deal was introduced by Niche Financial Solutions.

The loan was secured against a 19th century fine art collection, valued at £5million, to complete a large property deal.

Malcolm Scanlon of Niche Financial Solutions, said: “Our client required additional short term finance to bridge a shortfall in funding to purchase a property and borro provided a flexible solution.