Money Metals Expands Its Gold-Backed Loan Service
Top U.S. Dealer Secures Major Capital Funding for Low-Interest Loans to Precious Metals Investors
November 17, 2020 (Eagle, Idaho) – Money Metals Capital Group announced today that a consortium of capital providers have dramatically stepped up their financial backing for Money Metals’ industry leading program to provide low-interest loans to Americans wishing to borrow against their own gold and silver.
“Individuals and businesses needing easy access to cash liquidity without actually selling their precious metals can access highly advantageous terms through Money Metals’ unique loan service,” said Stefan Gleason, president of Money Metals Exchange, Money Metals Depository, and Money Metals Capital Group.
“It had previously been nearly impossible for the average investor or business to access credit using their own gold and silver without paying exorbitant pawn-shop-type interest rates,” Gleason noted.
“And loans against the monetary metals are totally unavailable from traditional bankers who not only view gold and silver with skepticism but also haven’t the foggiest idea how to verify, store, or even value them.
“Our metals-backed lending program is user friendly and cost-effective, and it opens up new options for investors who hold physical precious metals,” continued Gleason.
Money Metals loan applicants can borrow up to 75% against the market value of their metals upon tendering their coins, bars, or rounds minted of gold, silver, platinum, and/or palladium as collateral.
Terms on Money Metals’ revolving lines of credit include interest-only payments, auto-renewal options, and lower interest rates than any other source.
“Because of Money Metals’ low cost of capital and because our borrowers are tendering high-quality collateral, we offer interest rates that compete with home equity lines of credit and secured business loans,” said Gleason.
“Given the advantages for certain types of borrowers, we see demand for our specialized loan product exceeding $100 million over the medium term.”
Borrower collateral is stored in a physically segregated manner and fully insured at Money Metals Depository, a privately operated Class 3 vaulting facility in Eagle, Idaho, which secures precious metals holdings for trustees, IRA custodians, banks, individuals, and businesses.
The Money Metals loan program is free of hassles and complex or slow underwriting procedures.
Borrowers simply submit a two-page application, ship their collateral to Money Metals Depository for inspection and storage, and receive funds immediately upon execution of loan documents.
Loan proceeds must be used for business or investment purposes (rather than personal, family, or household purposes) and cannot be immediately used to purchase additional precious metals. The minimum loan size is $25,000, and the program is available in most states.
For more information (or to apply for a loan), call 1-800-800-1865, visit https://www.moneymetals.com/gold-loan, or email [email protected].