Collectors Can Obtain Loans Secured by Their Art

 

Art Loans pic

Art Loans
Image: trevorcolecommercial.com

Trevor Cole Commercial Corp works with commercial businesses and individuals to help them secure funding for a range of endeavors, including real estate development. Additionally, Trevor Cole Commercial Corp assists borrowers in obtaining loans backed by assets like collectible art and jewelry.

Collectible art is considered an asset. While the process of acquiring such pieces can be costly, the investments can fetch larger sums in the long run. Such assets can also be used to help fund various projects, like business and real estate investments, if the collector takes out a loan against the art.

For these reasons, there are banks and other lenders that provide small loans secured by collectible art. As part of the process of obtaining such a loan, insuring the art can protect both the lender and borrower in case of theft, damage, or default payments, should the lender allow the borrower to keep the art in their home while the loan is being repaid.

In most cases, these loans are only available to those with significant collections worth more than $1 million, although some companies specialize in short-term loans against art valued at lower amounts.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s