LUXMAC  COVINO & COMPANY INC.

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NamePriceChange
Nasdaq6,387.75down2.25
S&P 5002,472.54down0.91
10-Yr TBill2.23down0.03
5-Yr TBill1.80down0.02
30-Yr TBill2.80down0.04
Quotes Delayed +20 Minutes.
Equal Housing Lender

ART FINANCING

Date : 03/25/2010

Art Financing Overview  

Art financing is the extension of credit using art as collateral. Some major financial institutions offer it as a special service to attract and retain high net worth clients. These lenders require a personal guarantee (and extensive financial review of the borrower, including tax returns and other sensitive personal financial information) in addition to the art as collateral. It can take over 30 days to finalize a transaction.

 

 

Our Art Financing process is a more simplified Financial deal that provides fast access to funds within a short timeframe, because it does not require personal financial information or personal guarantees. We work with an Art Appraisal report and funding can usually take place within 5 business days.

 

We offer factoring services to clients who need additional short-term funding due to substantial growth from new opportunities, or acquisitions of assets. Such needs are not always supported by a clients current Lender.


Our Clients leverage their current Operations to obtain liquidity for future growth. They do not have to rely on their operational history, give up equity in their business, provide personal guarantee, get further into debt or give up business control.


All that is required is that the client secures the Art in a third party bonded warehouse facility and get two appraisals from Christies and Sothebys. 

 

Our process highlights

 

Timeframe | Fast!Typical deal is signed and funded within 5 business days from the date of verified appraisals.

 

Funds Advanced Flexible! Up to 50% of face value of Appraised amount.

 

Fees | Typical fees are 2-3% for every 30 days. 

 

Transaction size | average $1- $5 million.

  



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