Asset-Based Loan or not. Painting worth $25MM is the collateral (if even needed! You'll see why below.)

Borrower lives in Montreal, QC. Painting is at a vault in Florida & can be seen & examined on demand, after LOI has been made.

I'm being told by expert lenders that a painting not part of the Pollock Catalogue Raisonné cannot sell...
Well, there are already buyers lined up for this one, including some museums, so I've been told...

Here, in a nutshell is what I feel makes this deal a piece of cake & worth it even without collateral:

  1. Borrower does NOT need to touch a dime out of the funds.
  2. Funds simply remain in escrow at top Canadian bank in Toronto while borrower exerts option to purchase another Pollock painting.
  3. Borrower offers 12 months interest reserves on the loan, even though only needs to show proof of funds for 4-6 months.
  4. Selling agent is offering to make all the interest payments himself! That's how ready & serious he is.
  5. Anything goes wrong @ ANY TIME, lender can simply remove the money, while borrower cannot remove a dollar unless lender gives consent. Lender controls funds all throughout!
  6. What more needs to be said?


Anything else, just PM me. I came up with this setup, realizing that the borrower stressed that he absolutely DOES NOT need to touch the funds. How simple & stupid is this deal?? I mean, am I crazy, or is there something I'm not seeing here...?

Again, PM me if you know any investor with simple-sized balls, who will do this deal. Doesn't take too much guts; just lots of money & patience for a really decent return.

***Note: If investor/lender wishes to keep the painting in their possession throughout, they must be willing to also insure it.***