Suros Capital sees growing interest in new ‘loans to business’ proposition
05 March 2024
Suros Capital, the luxury asset short term lender, has reported increasing interest in its ‘loans to business’ proposition introduced in January with many introducers stating how much easier it is to deal with a lender which has eliminated so much of the red tape around the process.
Ed Blackmore, Business Development Director at Suros Capital, said, “It is encouraging that Suros’ decision to lend to businesses has been vindicated by the response we have had from commercial finance professionals. At a time when conventional bricks and mortar commercial lending is becoming more and more of box ticking exercise to satisfy more restrictive criteria, our proposition, based purely on the value of the luxury assets being offered as security, is looking particularly attractive to firms that want fast completions with the minimum of paperwork.”
As an example, here is a summary of a recent successful case where an accountant who owns a fine art investment business, introduced by a commercial finance broker, needed £70,000 to acquire artworks for his firm. By leveraging his company’s existing art collection and using it as security, Suros was able to provide the £70000 required. The firm intends to sell part of its collection to pay off the loan at a time when it can get the best price.
The whole deal took less than three days from enquiry to completion.
