Need Capital? Try Luxury Financing!
When a profitable business opportunity come along, many business owners find themselves in need of extra capital, and would rather not draw on their personal finances in order get things done. Instead of spending money out of pocket, or wading through the red tape associated with conventional bank loans, many savvy business owners are burning to luxury financing.
What is Luxury Financing?
Luxury financing – as the name implies – uses luxury items (art, fine wine, jewelry, handbags, luxury vehicles, etc.) to finance loans. Commercial financing professionals have the items appraised, and in many cases offer up to 70% of their value for such lending products as bridge loans, term loans, sale advance loans, and more.
Private, Secure, and Fast
One of the main draws of luxury financing is how quickly it can be arranged. Funds are made available within 24 hours after the appraisal is made and the agreement is signed. Appraisals are done in house by certified experts with specialties with each type of item submitted for financing. This means that your items will be paired with someone with the correct training and decades of experience in order to get you the highest value for your luxury goods. Appraisers are usually brought into the financing office, or on-site for larger, and more delicate items, so there is no risk to privacy or security.
Who Can access Luxury Financing?
Luxury financing can be accessed by anyone who has luxury goods to use for capital. While many think of art and jewelry as prime examples, watches, coin and stamp collections, and other valuable collectibles can also be used. In fact, many business owners dig out antiques and heirlooms that have just been collecting dust, not realizing that they could be used to get financing for time-sensitive business opportunities.
What is Luxury Financing Used For?
As stated above, luxury financing can be used to get things such bridge loans, term loans, and more. These can be used for time-sensitive commercial real estate investments, business acquisitions, debt refinancing, and many other projects where funding is needed quickly, but traditional bank loans are not an option.
Luxury financing is a great financing solution which is only offered by commercial financing companies that can provide the privacy, security required to handle such items, as well as having a partnership with people who have the accredited expertise to offer the most accurate appraisals.