Suros Capital provides finance for new art gallery

Published on

Suros Capital, the luxury asset-backed short-term lender, has provided finance to support the opening of a new art gallery.

Suros advanced £300,000 against part of the client’s extensive art inventory to ensure the gallery opened on time.

The loan was completed within 72 hours of application, with the only delay being the time it took to have the art assessed and valued.

The galley owner who required financial support to help open his gallery on time was advised to approach Suros Capital by a London based fine art advisory firm.

The loan of £300,000 is expected to be redeemed within three months as cashflow improves.

Ray Palmer (pictured), director at Suros Capital, said: “This deal demonstrates just how vital the Suros service is to those clients who require instant finance.

“There is no other facility available in the UK that is able to provide funding so quickly and with so little invasive bureaucracy.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

FCA updates on enforcement transparency

The Financial Conduct Authority (FCA) has provided an update on its enforcement transparency proposals,...

The Cumberland partners with Uinsure

The Cumberland has teamed up with Uinsure and will now use the fintech to...

LMS sees February growth in instructions and completions

The latest LMS Monthly Remortgage Snapshot for February 2025 reveals a 12% increase in...

The Right Mortgage announces details of 10th Anniversary National Training Event

The Right Mortgage has confirmed details for its flagship National Training Event, set to...

Other news

FCA updates on enforcement transparency

The Financial Conduct Authority (FCA) has provided an update on its enforcement transparency proposals,...

The Cumberland partners with Uinsure

The Cumberland has teamed up with Uinsure and will now use the fintech to...

LMS sees February growth in instructions and completions

The latest LMS Monthly Remortgage Snapshot for February 2025 reveals a 12% increase in...