Borro, the UK’s leading personal asset lender, has successfully lent upon a well-known music award as collateral in one of its latest deals.
Ahead of the celebrated Ivor Novello music awards, Borro has successfully advanced funds secured on one of the Ceremony’s acclaimed statues.
Unable to disclose who the award belonged to; Borro reveals that the sculpture achieved a loan value of £4,000 for the client.
Paul Aitken, CEO and Founder of Borro, commented: “We have clients realising that investments they have made in rare and prized musical instruments and memorabilia can be used to release capital.
“We see clients looking for savvy ways of raising money to realise business opportunities, or to pay for unexpected financial situations.”
Ivor Novello bronze statuettes are usually rewarded to those who contribute to British song writing and composition.
In total, Borro has lent over £200,000 against music memorabilia in the last 12 months and £600,000 since launch – seeing a 31 per cent increase in volume, year on year.
Other interesting assets of this nature include a Beatles record contract, a leather jacket belonging to an (unnamed) rap star, The Clash and The Who original photographs.
The firm also recently announced that it has boosted its intermediary development team with the addition of former international basketball star Nyedzi Kpokpoya as a BDM.
Nyedzi studied for her MBA at Edhec Business School and was a professional basketball player in her native France and in Europe.
With almost 10 years experience across various European professional service companies, the last three being within financial services
Claire Gates, Managing Director at Borro commented, “We have really taken our time to find the right person to engage with the wider intermediary market. Nyedzi’s international background, experience and team spirit made her an ideal Business Development Manager to look after new verticals for Borro.
“As a company Borro continues to work closely with the intermediary market to ensure professional advisers have a full understanding of what we do and how we can help service the needs of new and existing clients. Nyedzi will certainly prove to be an integral link in this chain as the business looks to develop even closer ties with sports and entertainment as well as with the intermediary market.
Read the full article at Bridging and Commercial