UNBOLTED investors can now access a bonus rate of interest on loans for dealers of luxury assets.
The peer-to-peer pawnbroker is best-known for providing loans secured on personal assets such as watches or secured business finance, but it has also moved into dealer loans.
A dealer loan lets businesses offering luxury assets secure a working capital facility against a set amount of stock that is held by Unbolted and must be kept updated by the borrower to maintain the value.
Unbolted also monitors the financial health of the business on an ongoing basis through bank statements, quarterly VAT returns and financial accounts.
Investors receive a base rate of 0.8 per cent per month and can now get a top-up bonus of between 0.05 per cent and 0.15 per cent each month, depending on their total investment.
They will receive a bonus rate of 0.05 per cent if they invest more than £5,000, 0.10 per cent if they invest more than £10,000 and 0.15 per cent if they invest more than £20,000.
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“You can restrict the amount of automatic investment to be made to a single dealer – although the total loan amount to the dealer may consist of multiple loans,” Unbolted said.
“As working capital requirements vary over time in natural course of business or by opportunistic purchase of goods, the number and total amount of loan to a dealer will vary.”