How Unbolted supported the set-up of a new business
Unbolted helps a couple start a new business.
Mr and Mrs. R fulfilled their dream with the help of a £50,000 loan from Unbolted secured against their jewellery.
Background: After 15 years of cold London winter commutes, Mr and Mrs R dreamt of getting out of the rat race and starting their own coffee shop chain in a warmer climate.
Requirement: They needed £50.000 to cover start up costs but with no established business background, the banks would not even open a conversation. They had equity in their property but could not re-mortgage and did not want to sell their home yet. They did however have £60,000 worth of gold jewellery, received as a gift from Mrs R's mother at their wedding. But the gold had been in the family for over 150 years so selling it was unthinkable.
The Unbolted Solution: Unbolted provided a £50,000 loan facility based against holding the family gold in pledge. The amount of gold and size of the loan will reduce over time as the new business grows. Unbolted provide full insurance and secure storage for the gold at all times.
What the Client Says: “Looking after our families gold and securing it for the future is a big responsibility but we feel happy that in borrowing against it we can start an exciting new life for us and our daughters. The interest rate we pay Unbolted is affordable and we have flexibility on the loan size and length. The thought of having the gold in a secure vault fully insured back in the UK is very re-assuring too” Mr and Mrs R. (now happily settled in India).