Fine Wine Used to Fund a Business Opportunity
Channel: Business Finance Consultant
Client: Entrepreneur, 57 years old, Cambridge
Assets: Fine wine collection worth £215,650
Loan: £129,390 (60% LTV)
Needing to fund the final part of the purchase of a new business, the client wanted to raise £129,390. Requiring the funds in a tight timeframe, which would allow him to complete the purchase before he went abroad, the client approached a business finance consultant for help. The consultant recognised that other forms of finance would not provide the solution in time, but discovered that the client had a fine wine collection that he would consider using as security on a loan.
The consultant introduced his client to Suros Capital, and our team contacted the client directly to gather further information on the fine wine collection and to arrange an appraisal appointment with the client at the fine wine storage facility. The collection was valued at £215,650 and we were able to advance the full £129,390 required.
As the fine wine was already stored in a professional wine storage facility, Suros Capital were able to keep it there for the duration of the loan. This eliminated any concerns the client had about transportation, security and care. The transaction took three days to complete from the initial enquiry.
“Suros Capital’s service was exemplary. Fast, courteous and professional at every stage, Suros Capital’s proposition is a great example of how short term lending works so well for customers in need of immediate funds for any purpose.”
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We are a specialist lending company providing loans secured against luxury assets. The group we are part of has lent over £200 million against luxury assets since 2010, and we are funded by Crestline Investors, Inc.(‘Crestline’), an institutional alternative asset manager.
© 2023 Suros Capital – all rights reserved. Suros Capital is a trading name of Hopkins & Jones Limited who are authorised and regulated by the Financial Conduct Authority. Firm reference number 731198. Hopkins & Jones Limited is registered in England under company number 433606. Registered office: 88 Fleet Street, London EC4Y 1DH. VAT number: 238 8280 37.
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© 2023 Suros Capital – all rights reserved. Suros Capital is a trading name of Hopkins & Jones Limited who are authorised and regulated by the Financial Conduct Authority. Firm reference number 731198. www.suroscapital.co.uk is a site operated by Hopkins & Jones Limited, registered in England under company number 433606. Registered office: 88 Fleet Street, London EC4Y 1DH. VAT number: 238 8280 37.