No interest for first month on short-term loans from borro.com
07/01/09
Borro.com, the online pawnbroker in the UK is offering loan borrowers a months free from paying interest on short-term loans. Borro.com is offering an interest free period deal for the first month of the loan and is available until the end of January this year.
With many consumers spending way over their budgets over the past few months and with Christmas debts for many to consider, this loan deal may seem like an attractive offer to a number of consumers.
With a number of banks and building societies being much stricter about lending, pawnbrokers are slowing making a comeback, and are often an easier option to get cash when other options fail.
The month of January is when access to personal credit is most restricted,” commented CEO of Borro.com Paul Aitken. He added “This year, with the credit crisis, and banks continuing to trim consumers' credit card limits, there will be fewer options than at any time in the last 30 years. We are introducing our First Month Free offer now because the time is right. It also reinforces our leadership position in the market and clearly demonstrates our long-term commitment to reinventing pawnbroking."
He continues, “Banks are finally starting to pass on the effects of UK interest rate reductions, but the bigger problem is that they still aren't lending.” The good news is that we are doing both - lowering our rates and making short-term credit more accessible than ever by lending more against more categories of valuables than anyone else in the market.”
