Luxury Watches, Luxury Cars, Precious Metals/Stones, Fine Wine, Jewelry & Fine Art are all assets that can be used as collateral to get some quick cash these days.
Are you contemplating on applying for a short-term loan for your business or personal use? This is a great alternative to a small business loan. Too often, small business owners and even private individuals are unwilling to extend themselves further into debt, especially if there are no definite assurances of stability and economic recovery.
Reports show that small business borrowing in the recent years has slowly declined, despite indications economic recovery is well underway. This is in view of the fact that people in general are apprehensive of the consequences that come with accumulating too much debt. The risks that come with it are something most people are not willing to accept.
A Practical Alternative for Fast, Short-Term Cash Loans
In view of this fact, personal asset lending, particularly luxury items has presented itself as a favorable option for individuals who want to avoid the drawbacks and the potential pitfalls of seriously damaging credit scores.
Luxury asset loans offer a supremely better option for a number of reasons. With luxury asset lending, you don’t have to contend with:
- Credit checks – there won’t be a credit pulled at all
- Income verifications – no proof of income required, no tax returns or paystubs
- Financial reviews – no bank statements or financial statements required
The whole nine yards that typically come with securing loans from financial institutions is no longer needed. Your credit score rating does not come into play here. There is also no need for any personal guarantee since the luxury item is set to secure you completely.
Luxury asset loans are perfect solutions for small business owners and consumers who need fast cash, without the usual paperwork. This loan option is fast gaining popularity as an efficient alternative financial product, especially among a wide variety of online borrowers and entrepreneurs who are faced with emergency financial needs and unexpected opportunities to grow and expand their businesses.
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If you have any questions, you can reach us at 888-565-6692
Best and Worst Assets to Use
As the name suggests, luxury asset loans are strictly based off the asset with loan sizes ranging from as little as $ 1,000 to as much as $ 2, 000,000. Acceptable collateral for these type of loan includes:
- Luxury watches
- Precious stones
- Precious metals
- Luxury cars,
- Fine art
- Sports memorabilia
- Fine wines
- Boats & Planes
- Designer purses
Best of all, the funds are made available to you in as little as 24 hours.
However, to maximize a luxury asset loan, it is important to know exactly what the best and worst items to use as collateral are. Real estate, big screen televisions, computers, lower valued cars and trucks and any type of electronics are not allowed to be used as collateral for luxury asset loans.
You will want to use luxury assets that are particularly high in value and can be readily shipped to lenders in their secure storage location. Among the common and recommended items to use as collaterals include luxury watches such as Rolex, Piaget and Breitling, gold and diamond jewelry as well as classic luxury cars.
All these items are generally stored as well as insured in specialist premises and vaults for the entire duration of the loan.
What other benefits are there when looking at luxury asset loans?
- These loans can be obtained faster than your traditional Merchant Cash Advance Loan; Funds are typically issued within 24 hours
- There is no pre-payment penalty; only pay interest on the months you need it
- No Credit Check & No Income Check: Strictly Asset Based Loans
- $1,000 to $2,000,000 loan amounts
- West Coast & East Coast brick & mortar locations