Prominent online lender Borro Private Finance unexpectedly ceased its collateral-based lending program this summer after nearly ten years of business. The UK-US-based establishment specialized in online pawn loans against valuable assets, including fine art, jewelry, and watches. The immediacy and convenience of pawn loans has cemented its value within the brick-and-mortar eco-system and established collateral lending as one of the only industries that has been unable to transition into an online marketplace.
Read the full article Business Wire: https://www.businesswire.com/news/home/20190924005064/en/Online-Pawn-Lending-Offline
Summary
Article Name
Online Pawn Lending Goes Back Offline
Description
Prominent online lender Borro Private Finance unexpectedly ceased its collateral-based lending program this summer after nearly ten years of business. The UK-US-based establishment specialized in online pawn loans against valuable assets, including fine art, jewelry, and watches. The immediacy and convenience of pawn loans has cemented its value within the brick-and-mortar eco-system and established collateral lending as one of the only industries that has been unable to transition into an online marketplace.
Author
New York Loan Company
Publisher Name
New York Loan Company
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