L S Lowry paintings and luxury watch solve immediate SME cashflow problems
Suros Capital has provided immediate cashflow finance for an SME owner to pay bills that had come due for payment, within three days of the first enquiry.
Needing £45,000 for invoices which were approaching a final payment date, our client had been counting on the proceeds of a property sale to solve the issue before the due date. But with the completion being delayed, the client and his adviser, who specialises in HNW clients, had no time to raise a loan against his house.
Introduced to the concept of using luxury assets to secure a loan, the client was able to put up paintings by the English artist L S Lowry and a luxury watch with a combined value of £75,000.
Once those assets were valued, appraised and safely stored, the requested £45,000 was released straight away and in time to pay the invoices.
