Luxury Asset Capital announces two new strategic acquisitions

By Leandra Monteiro

Luxury Asset Capital ®, a provider of alternative financing, announced its acquisition of Beverly Loan Company (Beverly Hills, CA) and New York Loan Company (Midtown Manhattan), collectively known as The Loan Companies. The acquisition of these prominent collateral lending brands solidifies Luxury Asset Capital’s position as the nation’s largest privately-held provider of non-bank loans that use borrowers’ luxury assets as collateral. The combination of the newly acquired brands with the company’s existing Borro brand has loaned over one billion dollars to tens of thousands of clients across the country.

Borro.com is Luxury Asset Capital’s FinTech platform, the innovative solution for upscale, online collateral lending. These new acquisitions add a dominant brick and mortar presence in the two largest cities in the United States (New York and Los Angeles) and further establish the company as the go-to source for collateral loans using luxury assets.

Both Beverly Loan Company and New York Loan Company are widely acknowledged as collateral lending industry leaders, and like Borro, they are exclusively focused on serving upscale markets. Bringing them into the Luxury Asset Capital family will further accelerate the advancement of collateral lending as a mainstream financing strategy for affluent and high-net-worth individuals, setting new standards of speed, convenience, and service for clients spanning geography and asset classes.

“The consistent appreciation of luxury assets creates a tremendous market opportunity for collateral lenders like us that serve affluent clients,” said Dewey Burke, Founder and CEO of Luxury Asset Capital. “Not only did Luxury Asset Capital gain two premier brands through this acquisition, but just as importantly, we doubled the size of our team. Our staff of highly-trained experts cements our position as the innovative leader in our segment of the financing marketplace.”

“Being acquired by Luxury Asset Capital combines our high-touch, face-to-face business approach in the nation’s two largest markets with the streamlined, online business approach that Borro pioneered,” said Jordan Tabach-Bank, former CEO of Beverly Loan Company and New York Loan Company. “I would only entrust my 83-year-old family legacy to a like-minded business who will treat our clients and their valued collateral with the utmost respect while guiding the business into the digital age. The success of both companies clearly demonstrates the strong value our unique lending product provides, no matter how a client prefers to do business.”

Luxury Asset Capital brands’ loan processes are virtually devoid of paperwork, completely confidential, and tailored to each client’s specific needs. The company’s attractive rates relative to other alternative finance providers and the ability to understand the needs of their affluent clients set the company apart.