Personal asset lender borro has seen an 40% rise in sign-ups to its Introducer Programme, which now includes wine merchants and art dealers alongside IFAs, mortgage brokers, accountants, wealth managers and loan brokers.
Top five reasons introducers recommend borro to their clients are as follows:
- To bridge funding gaps (either side of a transaction)
- To pay a tax bill
- To pay a legal fee, or school fees
- To fund projects such as property developments
- Working capital
Paul Aitken (pictured), CEO and founder of borro, said: “In the current economic climate it is hard for individuals and businesses to access finance. As a result 40% more intermediaries have recognised that in the right circumstances clients can use valuable personal assets to raise funds without lengthy bank processes or utilising property as a guarantee.
“At borro we have seen a huge rise in art and wine collections coming through our doors so it is great to have wine merchants and art dealers on our books.
“Introducers are becoming more aware that services like ours can offer their clients a fast and transparent lending channel that is increasingly becoming mainstream.”
