You are here: Home - Specialist Lending - Bridging -

Suros Capital reports boosted financial performance

  • 16/04/2024
  • 0
Suros Capital reports boosted financial performance
Luxury asset-backed short-term lender Suros Capital has seen its financial performance improve over the last two years.

Between March 2022 and March this year, the group’s loan book saw an 88% rise. 

Over the same period, its total annual group revenues more than doubled from £4.5m to £9.5m. 

Meanwhile, Suros Capital’s return on capital rose by a fifth, while its profitability increased fivefold. 

Paul Aitken (pictured), chair of Suros Capital, said the last two years had resulted in a “major breakthrough” when it came to its relationship and engagement with intermediaries. 

At the end of 2022, the lender revealed its intention to partner with more intermediaries to raise its profile. 

Aitken added: “Since we launched our service based on securing short-term loans against luxury assets about three years ago, we have seen a gradual rise in new business. However, the message about using luxury assets including jewellery, fine art, watches, luxury and classic cars and fine wine rather than bricks-and-mortar as security for short-term loans has really got through to the broker market.

“Far from being seen as a fringe lender, Suros Capital has really established itself as a genuine alternative to traditional short-term lenders.” 

Aitken said: “Our commitment to providing a service that is so much faster than traditional short-term lending sources and requires so little paperwork and intrusive personal financial checks has clearly had a positive effect on the way advisers think about the service they offer clients.

“Speed and simplicity are the keys to the success that Suros Capital is now enjoying.” 

Suros Capital provides bridging finance, acquisition loans and inventory loans secured against luxury assets including jewellery, watches, fine art, fine wine and luxury or classic cars. 

At the start of this year, it broadened its lending to limited companies in England and Wales, instead of just individuals. 

There are 0 Comment(s)

You may also be interested in