The loan guarantee? A luxury bag is enough in Hong Kong

  • February 21, 2020

A Hong Kong financial company accepts the luxury goods of those who need a loan as collateral. Most of the goods return to the hands of those who committed them.

The reasons that push a person to apply for a loan can be many: the car broke down, there is a sudden medical expense that you cannot face, you don’t want to miss anything from your family. But since it is better to always see the glass half full, you should not go down when you are in difficulty, because the solution is very close: in fact, you just need to compare the best loans to find the one that best suits your needs.


Loan installment

Loan installment

And if the loan installment may be too high even in the Chinese area, which is growing at a fast pace, the special region of Hong Kong has found original alternatives. It is here, in fact, that a new form of lending has been introduced which requires the deposit of precious assets owned by the applicant as a form of guarantee. As can be read on Hongkong magazine, Across Lender in Hong Kong accepts bags signed by Channel, Gucci, Hermes as a “pledge” to obtain a personal loan, evaluating them up to 50% of their list price. An interest rate of 4% is applied to the loaned amount and the customer has 4 months to return the capital and get back his precious asset.


Most customers honor their debt on time

debt loans

As Bryan John Yu, president and CEO of Across Lender explains, who added that insolvency cases are rare enough because customers “are sentimentally tied to their purchases”. Anyone who does not return the money loses possession of the bag, which will be sold ‘second hand’ to Milan Station Holding, belonging to the network of the financial company.

Loan sums range from a base of around $ 200 and up, based on the value and quality of the bag left in pledge. One of the most precious pieces, a crocodile bag, allowed the granting of a loan of over 30 thousand dollars. Across Lender is not only pink, as Yu explains: “We have both men and women as customers”.


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