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TMCNet:  borro Offers Short-Term, Interest Free Loans to Hurricane Sandy Victims in the Tri-State area

[November 09, 2012]

borro Offers Short-Term, Interest Free Loans to Hurricane Sandy Victims in the Tri-State area

NEW YORK --(Business Wire)--

borro, the leading online personal asset lender, today announced it will initiate its Hurricane Sandy Relief program - a new short-term, interest-free lending program to assist those small businesses impacted by Hurricane Sandy. In an effort to help ease the recovery process, borro will offer three months interest-free on loans up to $100,000 to small business owners located in New York, New Jersey and Connecticut who have been affected by Hurricane Sandy and might not have access to funds until insurance claims are processed.

"We understand the tremendous disruption that a storm such as Sandy can have on people's lives, and we want to offer some small meaure of relief for those who might need it most," said Paul Aitken, CEO and Founder of borro. "Access to traditional forms of financing is already difficult to come by and with the additional uncertainty brought on by Hurricane Sandy we want to be sure that people have a hassle free way to secure funds."


borro offers small businesses, entrepreneurs and high-net worth individuals liquidity against luxury personal assets such as watches, jewelry, prestige and classic cars, fine art and antiques. There are no credit checks with borro and loans can be issued within 24 hours. The process is initiated online or in-person and borro will lend anywhere from $1,000 to $1,000,000 depending on the asset.

borro's Hurricane Sandy Relief Program will go into effect immediately and last until November 30th. To further demonstrate its commitment to the greater NY Metro market, borro has also made a charitable donation to All Hands Volunteers - a US-based, 501(c) 3 non-profit organization, that offers hands-on assistance to communities around the world and provides immediate, effective and sustainable support to communities in need by harnessing the energy and commitment of dedicated volunteers. In addition, borro has promised the charity an additional $100 extra per loan taken out as part of the Hurricane Sandy Relief Program.

For more information about borro's personal asset loans, please visit www.borro.com.


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