The new breed of entrepreneurs is turning to an unexpected source of fast finance. Many business people often find they need a quick, high-value loan, for sometimes as short as a few days or weeks or as long as three months. Maybe a repayment is due, the stock must be brought, a deposit paid, or a limited-time offer needs to be taken. Lending a large amount from your bank can be hard if it has to be fast, they already have your other lending, which might be affected.
Many deals are lost because the business does not have the funds to take them, they might be expanding fast but need to hold capital in reserve. Often, a great deal comes along, you must grab it quickly, as many others will come to claim it.
A customer of ours owns a used car dealership. He had a customer who came in offered him an E-type jaguar, 1967, white had only done 897 miles. He wanted only £15,000.00 but needed it within 48 hours, or he would sell it somewhere else. Now our friend knows that if he can get this car, he will make around £10,000 in profit, but he needs the £15,000 as soon as possible. He, unlike me, has high savings, he also has a friend who sometimes goes half share, but he will lose half the profit. His own 2007 stainless steel Daytona, which he lends £10,000 against buys the car resells it within two months.
There are not many situations where you can get £10,000 in 24 hours, this is for someone unknown to the broker. Many entrepreneurs are developing a relationship with a luxury pawnbroker because when opportunity knocks, they don’t want to be left behind.
Sometimes businesses find themselves in the situation of needing to spend money to make it, their bank won’t help them. In a recent deal where we lent £30,000 to a businessman, who used the funds to produce an order he had received for his metal doors shutters business. He had an order from a local council, while it represented high profit, he knew they would pay months after he did the job, he literally could not afford the materials. His bank would not lend him more, if they did, it would be a high-interest overdraft or unsecured loan.
This way, he borrowed against a watch some jewellery that he owned. He was able to complete the high-profit job secure a new client. Many businesses face a time when they need some extra funds, or they would miss out on a deal.
If you run a business, be it brick mortar, are a trader or collector, you need a fast cash loan. A pawnbroking loan can be perfect for you. In this modern world, it is one of the quickest most affordable, this is why the image of the pawnshop is getting better. Having an answer to the question, ‘where would I borrow £20,000 in 24 hours.’