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Trov Simplifies Borrowing Against Tangible Assets
[October 22, 2013]

Trov Simplifies Borrowing Against Tangible Assets

SAN RAMON, Calif. --(Business Wire)--

Trov®, whose applications help people collect and benefit from the information about every thing they own, today announced it has partnered with the leading collateral-based lenders to enable Trov members to borrow against their personal property. Art Finance Partners, borro, Flexborrow and Suttons & Robertsons will provide secured loans against assets stored in a personal Trov. In doing so, these companies help Trov members unlock the value of their assets - from jewelry and watches to art and antiques - by leveraging them for short-term financial needs.

Trov is a private cloud-hosted digital locker where detailed data about individuals' property and possessions is uploaded, regularly valued, securely managed and selectively connected to partners who offer advantages to Trov members. Trov's lending partners provide both a means to seamlessly borrow against tangible assets, as well as various discounts, credits and VIP services that help individuals benefit from every thing they own.

"We are delighted to partner with these specialty lenders to provide our members with liquidity options that go beyond traditional financial holdings," said Scott Walchek, founder and CEO of Trov. "Trov members can now just as easily leverage their art or jewelry collection to obtain liquidity, as they can their stock or property holdings. And because Trov updates members as the value of their possessions change, they can act expediently and draw funds as needed."

Art Finance Partners, borro, Flexborrow and Suttons & Robertsons will help Trov members convert unconventional assets such as fine and decorative art, antiques and collectibles into discretionry capital without requiring the sale of these assets. That means members retain the benefit of any appreciation in the value of their collection, while still enjoying the flexibility that leverage provides.

"We see the partnership with Trov as a very natural fit," said Christopher Krecke, Partner at Art Finance Partners. "Trov helps individuals digitally capture, value and manage their collections, while Art Finance Partners provides them with additional buying power and liquidity when most needed. Together, we are arming Trov members with a seamless way to unleash equity from their collections, and put those valuables to work."

"Suttons & Robertsons has valued and held pledges against countless fascinating and exceptional items in its 240 years of business, and we are delighted to help Trov members benefit from the value inherent in their collections," said Scott McCree, Managing Director of Suttons & Robertsons. "Our mission is to make the loan process quick, convenient and civilized, and we look forward to bringing this same level of service to individuals who manage their tangible assets in a Trov."


"borro brings Trov members a discreet, convenient and transparent way to release equity from assets over the internet," said Tom McDermot, General Manager, USA at borro. "We secure short-term loans against a variety of personal assets, including jewelry, watches, gold, art, boat, cars, and fine wine, and any of those items stored in a Trov are eligible for a personal asset loan at discounted lending rates."

"We are delighted to provide Trov members with a streamlined way to do asset-backed loans," said Gary Brustein, President and Co-Founder at Flexborrow, and former owner of Long Island Bentley and Long Island Lamborghini. "Flexborrow offers loans against a vast range of individual or bundled assets - everything from classic cars and planes to high-end handbags - and provides Trov members with a financing alternative, beyond bank loans."

There are a number of ways to add assets to a Trov. Qualified appraisers and insurance risk managers use Trov's professional application, TrovCollect, to gather detailed information about tangible assets and assess value when they are in clients' homes. Additionally, new acquisitions can be automatically added to a personal Trov at retail point-of-sale, via electronic receipts, and - soon - through Trov's mobile application. As values change, the Trov user is notified - and can take action to leverage or protect tangible assets.

To activate a Trov, visit trov.com or contact your insurance broker.

About Trov Inc.

Trov creates applications that help people collect and benefit from the information about every thing they own. The data is stored in a personal Trov - a private online digital locker where their information is organized, valued, securely accessible, and selectively sharable. Members receive unique benefits from Trov partners, including the world's leading insurers, wealth managers, luxury retailers, financial services, auction houses, appraisers, and more. Trov is privately funded, and headquartered in the San Francisco Bay Area with offices throughout the U.S. For more information, visit Trov.com or follow us on Twitter (News - Alert) @mytrov.


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