Leading lender receives Picasso Sketch, Guitar Signed by Neil Diamond for collateral as new category of personal loans grows 250% last month.
Boomerang Lending, the nation’s leading online collateral lender, announced today it has experienced over 250% growth in loan requests during the past month. With the continuing malaise in the economy but a high value of prior investment in luxury goods such as fine jewelry, diamonds, watches and artwork, affluent Americans are turning to collateral loans to solve temporary cash flow needs using the value of assets they already own to secure cash.
Boomerang’s CEO Todd Hills stated, “Affluent individuals are getting creative in utilizing the equity that they have in assets they have acquired in better times.” Hills added “We have had loan requests of up to several million dollars in the last month, with these individuals offering such luxury assets as gold bullion, a mid-50’s Picasso sketch and a Gibson Guitar signed by Neil Diamond as collateral for their loan. These individuals didn’t want to sell their heirloom-quality assets, but they each needed cash to solve income shortfalls.”
Boomerang Lending makes quick and secure collateral loans against fine jewelry, watches, fine art or almost any luxury item in as little as 24 hours. Applications are taken online so customers can loan themselves money from their own homes. Items ship free of charge to Boomerang Lending via FedEx insured up to 0,000 by Lloyd’s of London. Expert evaluators assess the market value of the asset and make a loan offer to the customer. If accepted, the customer has 6 months before being required to make a payment. Boomerang returns the item to the customer free of charge, again fully insured by Lloyd’s.
About Boomerang Lending
A member of the Better Business Bureau, Boomerang Lending offers mid-term, collateral-backed loans quickly, securely and privately at 60 percent less than traditional short-term collateralized loans. Boomerang Lending executives have 25 years experience in the collateral lending industry. Based on its experience and proprietary valuation technology, the company guarantees premium value loans for customers’ assets. Boomerang Lending provides personalized attention to its customers and maintains transparency throughout the entire loan process. For more information, visit http://www.boomeranglending.com.
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Posted On: Denver, CO November 4, 2010