Ray Palmer, director at Suros Capital (pictured above), said: “We have been encouraged by the response to our proposition from businesses and their professional advisers.
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“At a time when conventional bricks and mortar commercial lending has become more of a box ticking exercise, our proposition, based purely on the value of the luxury assets being offered as security, is particularly attractive to firms that want fast completions with the minimum of paperwork."
Ray cited a particular case involving a jewellery company, specialising in diamonds and luxury watches, which required a loan to acquire more inventory.
Using the collection of watches and diamond jewellery as security, Suros provided a £245,000 loan which will be redeemed from the sale of inventory in four months.
The facility was provided within 48 hours of the valuation of the watches and jewellery being offered as security.
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