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Springleaf said that the problems were isolated and that it had curtailed the use of household items as collateral.
Pawnshops like this, unofficial but largely tolerated, are popular among the poor because they offer small loans and require only low-value everyday items as collateral.
Borro, the U.S. and UK-based online platform that people borrow money and put up luxury items as collateral, is today announcing $19 million in new funding led by strategic investments from Israel's OurCrowd and Berlin's Rocket Internet.
Innovation and intangible assets must become as attractive as collateral as bricks and mortar.
Roll the item as flat as possible.
Post the item as soon as possible.
Ship items as soon as possible.
Dvorkin suggested that it's easier to get a loan using as collateral an item like real estate or stock as opposed to portable items such as a diamond ring, a vehicle or other items that can easily be transported.
Whether a debtor or a particular item of collateral was included in our analysis at the borrower or the collateral level is illustrated in Fig. 1.
Notably, although Borro works a lot with auction houses today — when consignees do not pay back their loans, that's where many of the items they've put up as collateral end up — it's not working with any as strategic investors at the moment.
As collateral, among other items, she used town houses she owns in Greenwich Village, a country house, and something else: the rights to all of her photographs.
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