Luxury Asset Capital®, leading provider of alternative financing, today announced that its first quarter, 2019 key business metrics of total new loan value and average new loan size have both increased over 500% in comparison to its first quarter, 2018 results, reflecting significant and steady growth of the company over the course of the first full year of operation of its LuxExchange and Luxury Asset Capital brands, combined with its legacy Pawngo brand. The company also announced that investors have doubled its line of credit from $50 to $100 million to support continued growth.
Among the drivers of this growth have been the addition of high-end, free and clear real estate as an asset accepted for collateral, a 10x increase in loans collateralized with luxury and exotic automobiles, the successful launch of the Sports and Entertainment Group, and its partnership with WatchBox, the leading global platform for the buying, selling, and trading of pre-owned luxury timepieces.
While an estimated 30 million Americans use collateralized financing as a financial management strategy, Luxury Asset Capital is broadening the clientele benefiting from collateralized financing. Its offerings target the middle and upper-income segments as even those with substantial incomes face situations where quickly and easily gaining access to capital can realize opportunities or resolve problems as they arise. The company’s $100 million line of credit enables it to provide immediate capital infusions to customers in amounts from several thousand to several million dollars.
The company’s attractive rates relative to other alternative finance providers and the ability to provide capital in as little as one business day, coupled with industry-standard-setting levels of transparency, convenience, and service are making Luxury Asset Capital an ongoing financial resource to its clients alongside their accountants, banks, and financial advisors.
“Luxury Asset Capital is redefining the collateralized lending market in multiple ways, and our results clearly show it. Our revenues have soared at a time when other major players have struggled or paused operations, and 75 percent of our clients come back and finance with us again,” said Dewey Burke, Founder and CEO of Luxury Asset Capital. “As the awareness of the speed, simplicity, service and overall cost-effectiveness of our offering continues to grow in the marketplace among both prospective clients and potential partners, I expect our business results and reputation will continue to set the pace among collateralized lenders for years to come.”
ABOUT LUXURY ASSET CAPITAL
Luxury Asset Capital is a leader in the alternative financing market, with over 12,000 loans funded since its inception. We are a private, family-office owned lender to individuals and businesses in exchange for luxury assets that are held as collateral, when traditional channels of financing are either too slow, invasive, burdensome or, in some cases, unavailable. We unlock the equity in a wide range of assets that are high in value but low in liquidity and execute transactions from thousands to millions of dollars in as little as one business day. www.luxuryassetcapital.com