Where to go when banks stop lending to the Diamond Industry.
It is no secret that ABN Amro, one of the largest lending banks to the diamond industry, has reduced lending on rough diamonds, shutting down their three major branches in New York, Dubai, and United Arab Emirates. When banking institutions were once a preferable financial resource for many businesses, today, the process proves to be tedious and in some cases impossible to receive monetary supply; even more, for diamond businesses. It is recommended by ABN Amro to, “show constraint and only consider purchasing when there is sufficient profitability.” Many banks aren’t educated in rough diamonds let alone determining the true value of your precious jewels, so their hesitance is understandable; however, what does that mean for the Industry and perhaps the financial support of our industry?
OWL Financial Group has seen the need of funding for businesses in the Diamond and Jewelry Industry and has created an innovative way for lending and borrowing within a 24-48 hour turnaround time.
With over 40 years in the industry, our process is nothing like traditional banks. We’ve worked with companies in our trade within the US and internationally and provide capital against all different types of diamond and jewelry assets.
OWL can help businesses like yours with secure funding, while putting up your “stale” inventory as collateral. This gives you the opportunity to either purchase new inventory or make a purchase without taking another partner and having to split 50/50 of the profits.
These are just some ways we have helped others, and we can do the same for you.
If you’re interested in more information, we are easily reached via email at firstname.lastname@example.org or call us 212-391-1250.
Thanks & Regards,
Kalman Klein & Kathy Hillelson
Owl Financial Group, LLC
50 West 47th Street, Suite 2006, New York, NY 10036
P: 212.319.1250 | F: 888.518.5744 | 844.CALL.OWL