Ask the professional: Alternative Banking - Ahwatukee Foothills News: Business

Ask the professional: Alternative Banking

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Posted: Tuesday, March 4, 2014 5:00 am | Updated: 2:50 pm, Mon Mar 10, 2014.

How has the economy affected bank lending?

In today’s economic environment that is still recovering receiving a loan from a bank is more difficult to than ever. A new segment of the population is experiencing difficulty in obtaining capital. Not just the poor and lower middle class but now the middle and upper classes are being affected. Interest rates are at historic lows, which would seem to benefit everyone, yet it seems to only help about 1-2% of the population. Even if institutions would entertain lending, many people have assets that a bank would not use as collateral or want to buy. Banks do not understand a Warhol, Crystal, Silver, Gold, collectibles or even cars and a vacant land lot but there is considerable value in these assets.

What does Biltmore Loan offer?

From Jaguars to jewelry and everything in between, we can purchase or loan on gold, silver, jewelry, timepieces, art, antiques, collectibles and designer handbags. Biltmore Loan also offers titles on vehicles, RV’s, ATV’s, boats and motorcycles, bridge and real estate loans. We strive to determine what is best for you in a prompt and efficient manner, advising you on your options on whether to sell the asset or acquire a loan. With a location in Chandler and Scottsdale, we offer private and confidential meetings to appraise your assets.

Will the loan be reported to the credit bureau?

Because the loan is a collateral loan, this loan will not appear on your credit regardless of whether or not the loan is repaid. Our loans are confidential and we do not check credit scores or report late payments to credit agencies. As an alternative banking company, there are no bars on the windows and you can walk in with dignity and get an expert opinion. We are here to help provide a solution to your financial problems and help make a decision that will benefit you the most.

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