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2 Short Term Asset Finance with borro borro is the leading short term asset lender in the UK, lending more than twice as much against valuable assets, and at better rates than other similar lenders. Loans of 1,000 to 1,000,000 can be offered against assets including Jewellery, Luxury Watches, Gold, Fine Art, Antiques, Sculptures, Luxury Cars, Yachts, Speedboats and other high value assets. All of borro s valuation experts have worked for leading auction houses, including Sotheby s, Christie s, and Bonhams. This gives borro the best understanding of the underlying value of each asset and means we can lend more than anyone else. All assets are stored in secure and insured specialist vaults/premises. There are many good reasons to introduce your clients to borro s fast and hassle-free service: Approval in Principle (AIP) in minutes Cash advanced within 24 hours All loans are non-status and secured against assets No set-up, extension, redemption, exit, expiry or penalty fees for clients No credit checks Introducers earn 7.5% of the loan value in commission Flexible, cheaper, faster and more profitable borro is more flexible, cheaper, faster and more profitable for introducers than Secured Loans and Bridging Loans for 2-6 month terms - see our Product Guide for more information. 2 MSS Survey of leading High Street asset based lenders 3

3 Who introduces clients to borro? All of our clients are introduced to us through IFA s, mortgage brokers, accountants, solicitors, lawyers, wealth managers and tax advisers. We can lend up to 1,000,000 and our valuation experts are available for home appointments. Who can I offer the borro service to? As borro loans involve no credit checks and are non-status, they are suitable for all clients in need of short term finance who own assets of value. borro loans can be completed within 24 hours, and appeal to clients who do not wish to submit details of income, or wait for finance. What needs do borro loans satisfy? Typical uses of a borro loan include: Bridging finance Supporting own business working capital requirements Achieving a better loan to value for a mortgage Paying for surveys and other fees relating to property re-financing Supporting an irregular income And much more... What are borro s Loan to Value ratio s (LTV s)? The table below shows indicative LTV s for each asset class: Asset Type Jewellery and Gold Luxury Watches Fine Art and Antiques Luxury Cars/Yachts LTV 70% + LTV 70% + LTV 50% + LTV 50% + LTV 4 5

4 What details will my client have to supply? borro loans are non-status and a client s income can remain unspecified. Likewise borro does not perform a credit check on a client, and the only mandatory information is proof of identity and address. How are the client s assets transported to borro? Home Visits - for assets worth 20k or more we can organise for free a home valuation by one of our experts. Appointment - for assets worth 2k or more we can organise for your client to meet a valuation team at one of our appointment offices. Premium Sameday Courier - for assets worth 5k or more we can organise for a free door-to-door sameday courier service from your client s home to our secure valuation centre. This service includes online real-time satellite tracking and insurance up to 50K. Royal Mail Special Delivery next day - for all assets up to the value of 30k we also offer a fully insured next day delivery service, which includes online tracking. Assets are guaranteed to arrive free of charge at our valuation centre by 9am the next morning. What is the process once the client s assets have been transported? When assets are received borro will: store the client s assets in secure and insured specialist vault and premises appraise all assets & approve all loans provide funds for the loans manage all contact with your clients throughout the process manage the transfer and receipt of all monies and manage the customer identification verification process Where are the client s assets stored? borro use only the best specialist storage facilities, so you and your client can be secure in the knowledge that the assets are safe. Most assets are stored thirty feet underground under time lock at a prestigious 120 year old storage facility in central London. Fine art, sculptures and antiques are stored at fine art storage specialists Ward Thomas. Luxury cars are stored in air conditioned premises and delivered back with a full valet. borro s classic and luxury car specialists will even service and run the vehicle whilst in storage. 6 7

5 What if my client cannot repay the loan? If your client is unable to pay back the loan and cannot redeem their asset, borro will manage the resale and settle the loan on their behalf. borro does not charge any penalty fees and has a fiduciary duty to obtain the best price for the asset. All assets are sold through the UK s major auction houses and any surplus from the sale after our recovery costs will be returned directly to the client. This will not affect the 7.5% commission earned by the introducer at any stage. How is borro regulated? borro is regulated by the OFT, and has a Consumer Credit License (No ). We are also a part of the Consumer Credit Trade Association. borro are not involved in any financial activities that require FSA regulation. How time consuming will this be for me? Once you have explained the service to the client, all you need to do is refer the client by giving us a call, or filling in a quick application form via your online account. borro will then: manage all communication with the client once you have initiated a case manage on-going client relationships and accounts manage logistics of receiving assets and shipping them back to clients pay for the upfront costs of transporting the assets What tools are there to help me sell & how can I track my cases? borro will provide you with an introducer pack that includes brochures, AIP forms and PowerPoint presentations containing both general and client targeted information. These can be found online via your online account, at /login which you can sign-up and log into, to manage your cases and loans and track the commission on your introductions. How will my commission be paid? All commissions generated by clients acquired using your network and serviced by borro will be paid on a monthly basis. Introducer commissions will be paid in two stages. Firstly, 50% of the commission if and when the loan passes through the 15 days right to cancel window under the Financial Services (Distant Marketing) Regulations If the loan does not reach 15 days no commission will be paid. Secondly, 50% of the commission if and when the loan enters the fourth month of the term. If the loan does not reach the fourth month, this part of the commission will not be paid. Commissions are based on a percentage of the loan value, and will be paid according to the following commercial structure: Loan Value Overall Commission Initial Payment If loan is in 4th month 1,000-99, % of loan value 3.75% of loan value 3.75% of loan value 100,000 Negotiable Negotiable Negotiable 8 9

6 Case Study 1 Richard Hayes, an independent property developer needed 120,000 to bridge a financing gap and secure a property deal. By taking a loan out against his fine art collection, Richard had the money in his bank account within 24 hours. borro paid for the storage, insurance and transportation of his art and Richard was comfortable he had received the best possible loan against his assets. Case Study 2 Boudicca Sherazade, an antiques dealer from London needed 22,000 quickly to secure a purchase for a client. Using her diamond jewellery and luxury watch collection to secure a loan, she had the money in her account within 24 hours Boudicca explained: I needed immediate funding for business reasons but I didn t feel comfortable declaring my monthly income. With borro.com I didn t have to do this, plus I received the money the day after applying. Case study 3 Steve Roche, is a building contractor and needed money fast, as a client had stalled on paying him. He took out a short term asset loan against his Rolex Yachtmaster. I only needed 1,300 but borro.com told me I could borrow more if I needed it, which was great

7 Press coverage View online at /news borro have featured widely on national TV and in the press including : Financial Times Asset lenders gain in credit squeeze Paul Aitken, founder of borro.com, an online asset lender, claims that the volume of business-owner clients coming to his website has increased several 100 per cent in the past 10 months. The Independent Banksy s works used as collateral by Europe s art patrons Europe s wealthy, hit by the crises in Greece and Spain, are increasingly turning to asset lenders for credit. The Times More people turn to credit to make ends meet Paul Aitken, of borro.com, the online asset lender, said: There has been a big up-swing in people coming to us for 1,000 plus loans. Mortgage Introducer Fast cars and fine art for short term asset finance Online asset lender borro.com provides borrowers with short term finance against assets ranging from fine art to fast cars. Sky News See Jeff Randall interview Paul Aitken on Sky News. Important insights on why borro.com is successful are provided. For more see /news 12 13

8 Who are borro? Our management, investors and board members have been involved in the creation of a wide range of market leading and changing businesses including Sportingbet, Egg, First Direct, Lovefilm, We7, Facebook, Linkedin and Betfair. Who can I talk to if I have any questions? If you require any further assistance please contact: Paul Aitken CEO paul.aitken@borro.com Matt Hawksworth Sales Director matt.hawksworth@borro.com Ray Palmer Business Development Director ray.palmer@borro.com Pamela Baffour-Djan Account Manager pamela.baffour-djan@borro.com Heather Francis Account Manager heather.francis@borro.com Please note: We can look into lending against other assets that can be taken into our possession for the duration of the loan term 14 15

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