Borro wins award for loans
cheap secured loans usually have variable rates – as opposed to an unsecured loan, which is typically fixed for the life of the loan
At Credit Today’s Awards last week, short term lender borro was given the ‘Alternative Lender of the Year’ award. The prize was awarded after the panel assessed the lenders innovation, customer education and customer satisfaction.
Publisher of Credit Today, Kamala Panday commented on the importance of the awards earlier this week, saying that the economic downturn has illustrated the need to reward professionals for ‘going the extra mile and doing complicated jobs at difficult times’ The quality of entrants for the awards has always been high, and even after the recession this has not changed. Despite the strong competition, borro.com has shown ‘a great adherence to best practice and quality – features that are crucial to a market that is at the centre of the economy.’ Ms Panday felt confident that the company will build on its success in the coming years.
Borro was launched in 2008, touted as the first online short-term asset lenders in the world. Loans are available of up to £1million, and can be secured against any number of assets, such as cars, boats, sculptures, antiques, fine art, jewellery and watches, and many more. Their website boasts that all the valuation experts have worked in the leading auction houses across the country, Sotheby’s, Christie’s and Bonhams, giving them the best experience for valuing each asset put forward. Among their company values, they list urgency, transparency, honesty, integrity and respect, as well as lending responsibly.
The company has also been involved in a Channel Four documentary, and has received a decent amount of regular media coverage to promote its commitment to raising awareness in the industry about credible alternatives to loans and debt management.
Founder of borro, Paul Aitken is delighted with the win, and takes credit for making a completely new market over the last year or so, and states that they will be striving for even more improvement next year. The popularity of their services has been helped by the launch of a new service which means professional advisers can easily recommend borro to their customers and help spread the word. Mr Aitken has great confidence in his company going from strength to strength, particularly since the new products are now more easily available, he says ‘this additional offering, combined with our commitment to providing flexible and fast loans, means we will continue to provide the strongest and best customer-focused service available’.
Secured loans are a form of borrowing that is secured against one of your assets