In-Depth Interview of Dewey Burke, Founder and CEO of Luxury Asset Capital, Parent Company of Borro, Published in Authority Magazine
April 14, 2020 (PRLEAP.COM) Business NewsAuthority Magazine recently published an in-depth interview and profile of Dewey Burke, Founder and CEO of Luxury Asset Capital, the parent company of Borro. The interview was a part of its "5 Things Every CEO Should Know About Navigating The World of Finance" series, focused on profiling entrepreneurs and business leaders in the finance industry.
Authority Magazine is devoted to sharing interesting interview series featuring people who are authorities in business, film, sports, and tech, including, Guy Kawasaki, Lori Greiner, Daniel Pink, Seth Godin, John Sculley, Shaquille O'Neal, Peyton Manning and a host of C-suite executives from companies ranging from Bank of America to Google to PepsiCo. The full interview is available here.
The interview includes highlights from Burke's career journey in the alternative finance space, including stints as a private equity analyst at a large global law firm, as a VP at a private equity fund, as the COO of a chain of brick and mortar pawn shops and CEO of the nation's first online pawnshop. Regarding his career progression, he noted: "All of those experiences helped me build insight into the various ways - besides traditional banks - that people and projects got financed, and the increasing need in all segments of the market for alternative financial services. That insight, and I suppose a latent entrepreneurial drive were behind my founding of Luxury Asset Capital as a service that brings collateral lending, perceived mainly as a low-transaction amount business for unbanked or lower-income segments of the financial market, to upscale, and high-net-worth market segments." To date, the company, including its subsidiary Borro, has loaned over $450,000,000 to over 15,000 individual and small business clients. Loans from Borro require virtually no paperwork, no credit checks, no lengthy waiting periods, or tax implications.
Speaking about the need in the market for the business he founded, Burke stated: "We live in a world where capital helps people solve problems, realize opportunities, and live dreams. Our purpose from day one was to provide individuals and businesses with a new source of readily available capital by unlocking the equity in a wide range of assets that are high in value but low in liquidity. We make four to seven-figure loans by leveraging that equity." Burke's concluding response to the "what are the five most important things one should know in order to succeed in the modern finance industry" question echoed that purpose: "Never lose sight of the fact that you are in the business of helping people. As a lender, it's easy sometimes to get hung up in the metrics of the business, whether it's the conversion rate of our marketing programs to our average loan size or the size of our aggregate loan portfolio. Obviously, those things have their place, but they are not our purpose. We lend money because money helps people solve problems, overcome obstacles, realize opportunities, and live their dreams. The best conversations I have with my team on any given day, are about learning what we, through our lending, are doing to help people."
The company recently announced that it has reduced its rates by 20% on collateral loans to help Americans meet important financial needs during the current national emergency.
Read the full interview at https://borro.com/medium-article-5-things-every-ceo-should-know-about-navigating-the-world-of-finance-with-dewey-burke/
For more information about a Borro collateral loan or line of credit, please visit: https://borro.com