Businessmen Turn to High End Pawnbroker to Solve Cash Flow Problems

(SANEPR.com) May 29, 2009 -- London, UK, May 29, 2009 -- The New Bond Street Pawnbrokers has seen a 35% increase in business as more and more businessmen and professionals affected by the credit crunch make use of what they describes as their private asset management service to maintain their businesses.

From their discrete premises in Blenheim Street in the heart of Mayfair, David Sonnenthal and his team have been busy supplying instant loans secured against everything from Rolex watches, Cartier diamonds and Porsche motor cars to entrepreneurs and managing directors requiring a quick cash injection, sometimes to save their businesses.

There are no credit checks or hanging around for a decision. Once the security for the loan has been assessed by one of the company’s expert valuers and the loan size agreed, the customer leaves with the cash, although for larger sums the money can be transferred directly into their bank account.

“As the banks have restricted their lending we’ve seen a big increase in businessmen and entrepreneurs coming to us to raise cash with a short term loan” Said Mr Sonnenthal of the New Bond Street Pawnbrokers. “We don’t need to know what the money’s for and we don’t ask, but some of our customers have said that their bank has refused to extend their overdraft and they’ve risked losing their business, missing out on a deal or failing to pay their staff if they couldn’t raise some cash quickly.”

Established in 1926, the New Bond Street Pawnbrokers ( www.newbondstreetpawnbrokers.com )is far removed from most people’s perception of a pawn shop. Situated just off New Bond Street in the heart of Mayfair the interior is more reminiscent of a small private bank and it was voted as the Best Independent Store in 2008 by the National Pawnbrokers Association.

Mr Sonnenthal continued “Our clients generally work in plush offices so this is the sort of environment they’re used to. Our minimum loan is £1000 and a client will generally secure their loan against items such as fine watches, jewellery, works of art and exotic cars. Over 80% of our loans are repaid so in the vast majority of cases we’re just looking after the items for a few months until the loan is repaid and they can be returned to their owner.”

The biggest loan made in recent months was for £500,000 secured against a yellow diamond but in the past they have made bigger loans secured against property such as private jets.

“The credit crunch has affected successful businessmen and entrepreneurs who occasionally need more cash to maintain their businesses than their banks are currently prepared to lend” Said Mr Sonnenthal. “We provide an essential source of liquidity when other avenues have been closed. I’m certain that several companies may not have survived and many jobs may have been lost had their owners not come to us for cash when the banks had turned them away.”

Staff at the New Bond Street Pawnbrokers are highly trained experts in several fields and customers benefit from their 40 years combined experience of diamond trading and 20 years experience of dealing with fine watches. New members of staff attend training courses in gemmology, diamond, art and antiques to ensure their clients receive the best service and highest valuations for their items.

Clients come from across London, the UK and internationally and the New Bond Street Pawnbrokers has built an enviable reputation as a discrete, professional and trusted company with a large and loyal customer base.

The loan agreements used are the standard contracts approved by the National Association of Pawnbrokers and interest rates range from 5% to 8% per month depending on the amount borrowed. The initial loan period is usually 7 months although the loan can be repaid sooner. A £5000 loan will cost £250 per month in interest.

For further information please contact: Jason at 42 PR on 07824 818242. If you would like to link to our website please use www.newbondstreetpawnbrokers.com

About Us:
New Bond Street Pawnbrokers Ltd –5 Blenheim Street, Mayfair, London W1S 1LD, Email: info@newbondstreetpawnbrokers, Tel no. 0207 493 0385. New Bond Street Pawnbrokers are members of the National Pawnbrokers Association
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Contact:
Jason Wyer-Smith
New Bond Street PawnBrokers
1 Church Cottages
Mileham, Norfolk
078-2481-8242
jason@42pr.com
http://www.newbondstreetpawnbrokers.com