Verus Capital Provides £50,000 Loan For 2020 Range Rover Autobiography to raise funding for new business concept

Date 22 June 2022
20th May - Prestige Car Pawn and Prestige Colleterial Loans
Verus Capital, specialists in secured short-term prestige and luxury car loans have completed another equity release loan of £50,000 for a 2020 Range Rover Autobiography worth over £90,000.

The client, a Scottish entrepreneur, wanted to raise funding for a new business concept by pawning his range rover. Using his prestige car as collateral against the loan to inject into his business allowing him to maintain liquidity and seize the opportunity to drive growth.

Every client’s needs and circumstances are unique. This is another example of how we can expediate a loan and help a client who was unable to raise funding from his bank and other short-term lenders due to their strict lending criteria and the company’s limited trading history” said Paul Hilburn, Verus Capital Director.

The client made a direct approach to Verus Capital to use pawn his car and us as collateral against a discrete short-term loan with no need to provide trading history, personal or business bank statements, and no need for a credit check.

Our clients anonymity is assured at all times and discretion is paramount to Verus Capital. No credit reports were undertaken and no search marks were left on the credit file,

Verus Capital completed a virtual appraisal & real-time valuation via WhatsApp video. Within 1 hour an offer in principle was issued, subject to the physical car check and final valuation. The client drove his Range Rover Autobiography to our local professional storage partner to compete a detailed inspection to confirm the final valuation. The condition and valuation were agreed minutes and the funds were released to our client’s bank account in seconds.

Paul Hilburn, director at Verus Capital, said: “Verus Capital is delighted to be able to support the growth of a new dynamic business in the post pandemic environment. The liquidity of a business is critical, and our client was able to release the funds he required within hours. We are a digital and direct lender, so Verus Capital is able to provide equity release car loans on all prestige, supercar, classic and vintage cars within hours of the application.

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