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.”