Suros Capital, the luxury asset short-term lender, has reported growing demand for its business loans proposition, with enquiries rising 45% this year.
The company said interest has been particularly strong among watch dealers, art galleries, fine wine dealers and property companies, with introducers citing the ease and speed of accessing finance compared with traditional lenders.
Ray Palmer, director at Suros Capital, said: “We have been encouraged by the response to our proposition from businesses and their professional advisers.
“At a time when conventional bricks and mortar commercial lending has become more of a box ticking exercise, our proposition, based purely on the value of the luxury assets being offered as security, is particularly attractive to firms that want fast completions with the minimum of paperwork.”
In one example, a jewellery company specialising in diamond pieces and pre-owned luxury watches required an immediate loan to acquire inventory.
Using part of its collection as security, Suros Capital provided £245,000 within 48 hours of valuation, to be redeemed within four months from sales.
