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borro
Commenting on borro's award in the Best New Business category,
Andrew Areoff, the Chairman of the Judges, said: "By creating
the world's first online pawnbroking service, borro has taken
money lending into a new era and formed a new category of lending.
Borrowers can take out short-term loans of between £100
and £1 million secured against their assets, such as, luxury
watches, fine art, antiques, jewellery and luxury cars. borro
has been able to lend where other lenders are unwilling because
of its in-house team of expert valuers. It has also taken advantage
of the speed and low cost of the Internet. It has recently completed
its first £1 million loan and lending has grown to £2
million a month up from £200,000 a month last year. borro
has to be congratulated for putting a new spin on an age-old business."
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