Entrepreneurs increasingly using luxury asset lenders
4 May 2017
Josephine Moulds of The Times recently wrote about the trend amongst entrepreneurs of using luxury asset lenders instead of banks to fund new projects. High net worth individuals are more and more likely to use assets like classic cars and valuable memoribilia to secure funding, rather than waiting longer for traditional bank funding.
Conrad Ford comments:
“Lots of types of business lending expect you to give a personal guarantee. It's putting everything on the line. It could be a family home, it could be stocks and shares. One of the benefits of luxury assets as a form of security is that you are essentially ringfencing your total exposure if something goes wrong with your business.”
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