New York Loan Company Provides Loans Using Luxury Asset As Collateral To Clients in New York & the Tri-State Region.
We are located at:
110 West 40th Street
New York, NY 10018
If you are in need of our services on the West Coast, our sister store, Beverly Loan Company, is located one block off Rodeo Drive in Beverly Hills, CA, where it has been providing confidential collateral loans since 1938.
New York Loan Company prides itself on being the number one luxury collateral lender in New York City. We specialize in unique, high-end and one-of-a-kind items that other lenders may not have expertise in. The Loan Companies have been in operation for over 75 years and has a stellar reputation. With our expertise and longstanding relationships with buyers on both Coasts, we are able to provide higher loan amounts.
In addition to the types of collateral we accept, our unparalleled customer service and commitment to providing a fast, easy, and confidential experience sets us apart. No matter what the dollar amount of the transaction, New York Loan will always protect our clients’ privacy and confidentiality.
New York Loan Company offers non-recourse loans. Collateral loans in New York State charge interest at 4% per month, and all loans are regulated by the NYC Department of Consumer Affairs. Although your collateral is stored in specialized secure storage, there is no storage fee. A monthly fee equivalent to 1% of the loan amount is charged for insurance. New York Loan prides itself on being completely transparent. We have no hidden fees, and your loan contract will have a clear breakdown of all costs associated with the loan. The loan amount is funded in full on the day the contract is signed, and fees are only collected on a monthly basis. Our team is happy to answer any questions you may have.
We lend against jewelry and gems, fine watches, contemporary and modern art, designer handbags & accessories and one-of-a-kind sports and entertainment memorabilia, silver flatware, auction-worthy wine and rare coins. Unfortunately, we do not accept electronics, instruments, or any other household items. To see a full list of accepted collateral, please see our “assets” tab at the top of this page.
We ask that you compile an email with photographs and details about the potential collateral, specifically the provenance. Once we receive the email, we will conduct our internal due diligence and provide you with an estimated loan amount. This is process can sometimes take 24 hours as we must often review auction records as well as consult with other experts in order to provide the highest and most accurate valuation possible. Again, be aware that we must see the collateral in person before making a firm offer. To see what kind of art/wine/memorabilia we accept, please see our “assets” tab at the top of this page.
We have significant additional security measures in place on premises and all collateral is afforded the highest level of protection either in our safe on premises or in the secure vault in our building. Keep in mind that our business has been in continuous operation for over 75 years and we have never lost, broken, or misplaced an item in loan. We handle all of our clients’ collateral with the highest degree of respect and care.
You are welcome to visit, but we do ask that you call or email us before stopping by to ensure a smooth admittance process. We reside in one of the most secure buildings in New York and all guests must be registered before gaining access. You will need to have a valid photo ID with you in order to enter the building.
A collateral loan is a loan that is entirely based on the value of your collateral – not your credit score or financial circumstances. We provide short-term, non-recourse loans with a four-month term. Arrangements can be made to extend the term should you require additional time. Once the principal plus all accrued interest is paid, your collateral is returned to you, which is always our goal.
You must be at least 18 years old and have a government issued ID (driver’s license, passport, etc.) to obtain a collateral loan. In some cases, we may require provenance, receipts or certificates of authenticity to make a loan. Each type of collateral is different. Please refer to the individual pages under the “assets” tab at the top of this page, or contact us directly for more information.
The majority of our clients ask to be paid in cash, however we can also pay via check, cashier’s check, money order or wire loan proceeds directly into your account. We accept payments in the form of cash, cashier’s check, money order, wire or debit.
We try to make the loan process as quick and simple as possible. A typical transaction takes no more than 15 to 30 minutes; however, the more assets that we evaluate, the longer the process will take. When the process takes longer, it’s usually because we are trying to confirm a higher valuation for your collateral.
We base the loan amount on several factors; we are not the type of lender who simply loans against gold weight. New York Loan Company employs GIA graduate gemologists to evaluate and authenticate diamonds and gemstones. With over 75 years in business, we are familiar with market fluctuations and the premium that signed goods carry, whether jewelry (Cartier, Graff, Harry Winston, Tiffany & Co) or watches (Patek Philippe, Rolex, IWC, Audemars Piguet, etc.). With our longstanding relationships with buyers on both Coasts, we are able to pay a premium for many assets. Every transaction is different and each loan is made on a case-by-case basis.
Unfortunately, in most cases, we cannot. Again, each item is unique and in order to provide the highest loan amount possible, we must review the specific attributes of your collateral and its condition in person prior to making an offer.
We specialize in collateral loans, however, if the asset meets our criteria, we will share with our team to see if it is something they will outright purchase.
Monday to Thursday
10AM – 6PM
10AM – 5PM
Saturday & Sunday
By Appointments only
DIRECT (212) 997-5626
TOLL FREE (855) 957-5626