We advance money against moveable and immovable assets, namely:
– Valuable timepieces and
HOW MUCH CAN I BORROW?
We will advance up to 70% of the market value of the asset. In determining market value, we will assess what a willing buyer will be willing to pay for the asset.
HOW MUCH INTEREST WILL I PAY?
Interest will be calculated at 5% per month on the outstanding amount of the loan. Interest must be paid monthly.
CAN I RENEW MY LOAN?
Yes, provided that all your interest payments and that the market value of your asset has not depreciated, you can renew your loan on the same conditions. If the market value of the asset has decreased, we will ask you to pay down some of the capital in order to renew the loan.
CAN I KEEP THE ASSET FOR THE PERIOD OF THE LOAN?
No. We advance money against your asset and we keep the asset as security for the period of the loan.
HOW LONG IS THE PROCESS?
It can all be done in 1 day from start to finish.
HOW LONG CAN I BORROW THE MONEY FOR?
Our average transactions run from 3 to 6 months, but can be longer.
CAN I SETTLE THE LOAN SOONER? WILL I GET PENALISED?
You can settle at any during the duration of the loan. It is entirely up to you. You will not be penalized for early settlement and you will only pay interest up to date of settlement.
WHERE IS MY ASSET KEPT?
You assets are kept off site in a safe and secure location.