Raising money with Borro.com ??

moatmeister

Going into this with my eyes open to the risks and costs looking to raise short term capital. Anybody had any good or bad experiences with using Borro.com (or similar companies) ???

Apples2

It's a pawnbrokers, what could possibly go wrong?

You can't seriously expect encouragement from a money saving site when you intend taking a loan out with an APR of 69% surely.

£100,000 and more 3% 39.2%
£10,000 to £99,999 4% 53.8%
Up to £9,999 5% 69.0%

Absolute madness sheer madness.

moatmeister

Yes no doubt its not everyones cup of tea. But I see it as a last resort overdraft facility. If its a case of a "fire sale" of specialist assets at a massive loss that I dont really want to sell or taking a short term hit with a high interest rate loan with a planned exit strategy to create a long term benefit to resolve a positive specific one off problem (as opposed to ongoing debt) whats the problem??


Just would like to know anybody's good or bad experiances with them!