Key points
Time-sensitive purchase
Existing fine art collection provided security
Urgent funding requirement
Background
Art Dealer, Client D needed additional capital to complete a time-sensitive purchase while waiting for other expected funds to become available. They were able to utilise part of their fine art stock that provided an existing source of asset value.
Solution
Following assessment of the collection and completion of the required checks, a £120,000 Asset-Backed Bridging facility was secured against eligible artwork. The collection was securely held during the agreement.
Outcome
Client D used the value of an existing fine art collection to bridge a funding gap, without needing to sell the artwork quickly and possibly under value to access capital.