After the Show Show: Fancy pawnshop
Borrowers get monetary loans for high-valued items
- Duration 5:14
- Date Jan 8, 2013
Borrowers get monetary loans for high-valued items
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All my my lonesome here on the after this year -- Grinding pressure officers used their radio I think if I -- -- judicious guy right here.
He lives in Oxford England and yet he is the as CEO and founder of will borrow dot com whose name is Paul they can't.
-- fifteen -- we have.
Yeah yeah bicycle.
That is totally irrelevant.
Don't go ache in my heart now -- a poll.
Are you offended.
By referring to your business as a kind of a fancy pawn -- but I'm offended by this and this AM way of describing it that people understand what's.
I think business is more -- a private bank in terms of how we do with customers in the touch things -- -- against I think you're exactly right because in this down economy there are a lot of people who need some money -- fast.
Or month or two or three or four.
-- so -- -- describe if you would your mission statement for -- dot com.
I think the ultimate what we're trying to do is we've -- new country in London when apply it but people were very fast access -- money and we do within 24 hours.
We won't -- so they don't have any credit risk or any issues if they default.
Because that's a mobile sure and we want to get an alternative -- -- about sex in both instances if you and have.
Initially for a few months you don't -- have to sell all right let's talk a little bit and -- some of the -- from you're US clients you visited your mainly.
You started the United Kingdom but -- you're here in the United States and this is a podtech Philippe watch yet this belongs to a guy who got into some money trouble.
You that you took a look at it and went to value of that.
Well as batted around 45000 dollars and -- can we -- home hit that watch within 30000 dollars on it as a platinum -- actually.
It's -- to the right time how much which would have been -- it as a right time.
NASA and it seems feels a mid west and sign some of the mid western no I mean it's 9 o'clock in New York City this is at 728.
Find that the side -- We'll gusts to solicit help for the fact that we've we get caught a lot of watches them like this and them lots of relaxes them and things about it so.
See you value this at how much it would be around 45000 dollars valued at 45000.
Dollars -- how much did you give the guy 30000 you gave the guy 30000 dollars.
Yeah he is.
-- how much to park this with you that's 43 -- -- cents a month is really important that what the -- was -- and clearly he thinks he can you know get back on its leaders -- have the money back where you can repair facility and you know 95% of the time people -- taking a line from -- experts come back and I.
Know what happens if the guy never comes back psych -- the contract went to six months once against the in the six months if we haven't seen them and haven't had any interest -- The move -- communicate with and feel variety of means and give -- child's -- back -- -- the 9 months -- -- -- -- but we'll put it to -- Through auction now get the best what's become.
-- -- -- lies and and give any accessed by two customer.
Well I like the idea because it it it's nice and clear cut it you know -- valuation is not just based on it and look at its open you know and -- dinghies were frugal and I give it.
Fifteen bucks for particularly know about all of all the prizes work -- a leading roles have circus is also the -- they've worked at Tiffany's a song like that.
So they are experts in the field -- -- express all the different areas that we and the cancers isn't just -- and watch it's it's fine arts antiques fine wines classic cars.
And it prestige because there's of full mix of things are bad.
And we had some real hard luck stories were somebody's come and it's you know and I hate to be doing this but I got money trouble and I'm gonna have to.
Park My Mother the Car here with you for a little while.
He you always get a mixture of things I think that you know I I always think of this is dismissed and -- half for businesses around people who boring from.
Very opportunistic -- reasons that Gulbis is opportunity dual props I just need the money and yet I was accountable that's why and under the gun for it.
Let's say the other half is kind of you could put into the distressed bucket for it within that distress coming school fees or tax bill.
Which ultimately isn't really distressed but every now and then you Q do you have people who -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- You know outside that is less than 10% of the -- what we today Willits it's a great service for people who were in a -- momentarily you know they have an opportunity perhaps -- just need to be more liquid.
-- there stand by with -- did -- to help them and it's borrowed dot com BOR are -- Oh dot com a site are very like very much Paul real pleasure thank you very much like it you know normally we would just impound that's for a little.
It's the wrong time I suspect the club might not be that happen you know what what range is in an -- off camera with a club.
I hit -- wanted to -- are good like I think it exists in my.