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A new peer-to-peer company has launched called FundingSecure (not to be confused with Funding Secured) and this allows individuals to pawn assets to obtain a loan. Here is what they say:
FundingSecure introduces savers who wish to achieve a high return with borrowers who wish to take out short-term loans using their assets as security. FundingSecure provides an alternative way of lending providing security to savers and cheaper and faster loans to borrowers.
There are pawnbrokers around on every high street, but FundingSecure are the first peer-to-peer company to offer this service. From the lenders perspective, this is not too dissimilar to existing P2P companies, except their funds are secured against an asset (valued at more than the loan), meaning that bad debt should be low. There is currently a special offer of 0% fees for the first 12 months for new lenders.