SCOTTSDALE, AZ - When Bruce Inouye's event production company hit hard times in recent years, he tried to get a bank to loan him money to help cover his costs.
"When the recession hit, basically they kept the same standards on how they qualify for the loan," Inoye said. "Now the small business person who got hurt and really hit had by the recession could not get the loan. I got tired of hearing 'no' from every financial institution I was trying to get a loan from."
That's when he discovered Biltmore Loan and Jewelry.
"They have a unique way of helping people get through this. Especially the small business person," Inouye said.
David Goldstein, the owner, has seen his loan business grow by taking risks on people the banks won't.
"It's asset based lending. It could be cars, boats, dune buggies. It can can be any antique," he said. "We do a lot with crystal like Lalique, Waterford, Daum."
Goldstein specializes in high end collateral loans. It's a bit like a high-end pawnshop. He will provide money on the spot for art, cars, fine watches, even expensive handbags. Biltmore doesn't have a showroom, doesn't deal with low-end items, and is only available by appointment.
"We're not looking for somebody who has just a wedding band to sell, and they want the scrap gold from it. That's really not our model. Our model is for the upscale businessman who is being turned away from the banks," he said.
Goldstein says private banking, and private loans are the way to go for quick cash you can't get from a bank.