Collateral Loans Using Luxury Assets with Dewey Burke

Welcome back to the Colloquium Podcast! In this episode, I welcome Dewey Burke, Founder and CEO of Luxury Asset Capital, an alternative finance segment that provides loans using borrowers’ luxury assets as collateral. As the CEO of the company, Dewey is in charge of formulating the company’s strategy and overseeing its execution. Under his leadership, Luxury Asset Capital has experienced 9x growth of AUM since January of 2017, raised $100m in investor capital, and acquired its largest competitor, Borro, in February of 2020. Dewey earned his Bachelor’s degree from the University of North Carolina, where he also played as a basketball player and won two ACC Championships. In this episode, Dewey talks about how Luxury Asset Capital processes a collateral loan, from the valuation of the assets to the fees and costs. He also talks about what sets them apart from commercial banks and what advantage they are giving their present and future clients. Join us and listen in![00:01 – 10:35] Opening SegmentI introduce Dewey to the showDewey shares his backgroundWorking at equity firmsBeing in the collateral financing spaceLaunching Luxury Asset CapitalPlaying basketball at UNCDefinition of termsCollateral loanWhy their company is fundamentally different[10:36 – 22:30] Breaking Down the Lending ProcessDewey shares a story from one of their dealsHow they closed the deal so quicklyEstablishing themselves in the marketplaceHow they handle the valuation of the assetsWorking with expertsLuxury and fine artsDifferent types of collateralsRare assetsDewey talks about fees and costsCourier feesTheir difference from a bankLogisticsHow they store the collateralsTokenized assets and NFTs[22:31 – 28:49] Today’s Market and Future PlansWorking in the sports entertainment industryWorking with athletes and entertainersReferral partnersIndirect opportunitiesWhat’s next for his companyAccelerating growth[28:50 – 34:12] Closing SegmentHow you can begin the process How you can connect with Dewey and his companyMost exotic collaterals they dealt withFinal wordsTweetable Quotes“Essentially, it's about education. People don't know that this is a thing. They don't know this exists, and it's rare that I have a conversation where I explain our business proposition to someone and they don't say ‘Wow, that makes a lot of sense.’ Conversations like this are helpful, and just educate the consumer that the bank isn't the only option. The assets the bank considers are not the only option.” - Dewey Burke Resources Mentioned:Luxury Asset CapitalBorroExcelsior Capital------------------------------------------------------------------------------------------Connect with Dewey on LinkedIn!Check out Borro on LinkedIn and Twitter at @borrobuzz!Connect with me:LinkedInLIKE, SUBSCRIBE, AND LEAVE US  A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.