Use your luxury assets as collateral for a short-term loan, ongoing line of credit or inventory loan
Our standard loan product.
It is a short-term loan that provides you with a specific amount of capital in exchange for one or more luxury assets that are securely stored by us as collateral until the loan is repaid. Our loans have a 4 month or 120-day term, and there is no minimum period for repayment.
For clients who require a revolving line of credit that can be drawn upon at any time
Like a home equity line of credit, the Luxury Line of Credit gives you immediate access to capital using the value of your luxury assets as collateral. Its credit line is based on our valuation of one more luxury assets that are securely stored by us as collateral.
Provides operating capital to luxury goods retailers, wholesalers, traders and other industry trade members
Inventory loans enable companies in the luxury good trade to use current inventory as loan collateral to help cover payroll, rent, insurance, and other operating expenses that haven’t gone away while revenues are reduced, and are an attractive alternative to selling inventory at a loss.
The Process. Upon entering the newly remodeled suite in the Bank of America building, you will be directed to a private office to meet with one of our Client Engagement team members.
The amount you will be able to borrow is based upon their determination of the value of your collateral. Our staff gemologists are trained at the Gemological Institute of America and will provide fair and competitive valuations based on the secondary market value of each asset. Once the loan amount has been agreed upon, a pledge agreement will be prepared for you to approve and sign. The terms of the pledge agreement are regulated by both state and federal laws.
What to expect. After you have signed the pledge agreement, the Client Engagement team member will provide you with the full amount of the loan in cash. There are no upfront fees or costs charged.
Collateral is stored in a vault within a vault under 24-hour surveillance in Bank of America. You are entitled to the full four months of the contract and may renew after the term matures.
Established in 1938, Beverly Loan provides loans using luxury assets as collateral to clients in the greater Los Angeles area from its offices in the Bank of America Building, located on the corner of Santa Monica Boulevard and Beverly Drive in Beverly Hills, where clients can bring in luxury assets for immediate expert valuation and loan funding.
We are a powerful alternative to hasty asset sales and traditional channels of financing that are often either too slow, invasive, burdensome, or in some cases, unavailable, unlocking the equity in a wide range of luxury assets that are high in value but low in liquidity. Beverly Loan is part of Luxury Asset Capital, the nation’s largest privately-held provider of non-bank loans that use borrowers’ luxury assets as collateral.
Call us or come visit us today! Or call at (310) 275-2555