Some U.S. pawnbrokers are taking liquid assets - literally. According to BusinessInsider along with family jewels and fine art they will accept wines as collateral for loans to help ease cash shortages of businesses and people on all rungs of the economic ladder.
"You'd be amazed by how many wealthy individuals have terrible credit ratings," said Jordan Tabach-Bank, head of Beverly Loan Co. in Beverly Hills, California. "And besides, if you go to a bank, it can take weeks or months to get a loan. When we make a loan, it's usually the same day,"
The pawnshop for the prosperous lends to hedge-fund managers, bankers, lawyers, doctors and even Oscar winners. "Most people have a vision of pawn shops as sad sites. But that's not the case here," Tabach-Bank said. "I have a lot of people who come in who have a business opportunity and they need an infusion of cash for business purposes."
USGoldBuyers.com, an online pawnbroker with an office in New York, will also accept fine wines, said spokesman Jose Caba, adding that the rich do not always have liquid assets to keep up with their expensive toys....
Read all about it at http://www.businessinsider.com/hedge-fund-managers-and-doctors-are-now-pawning-fine-wine-for-quick-cash-2012-2
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