Despite being a relative newcomer to the industry, short-term lending specialist borro has been named Alternative Lender of the Year.
The award was presented by Credit Today at a ceremony which included performances by the cast of Chicago and comedian Lee Hurst.
Founder and chief executive officer of borro Paul Aitken says: "We are delighted to have been named by Credit Today as the Alternative Lender of the Year.
"We have created a completely new market over the last few years and we are committed to continued growth."
Among the elements that contributed towards it winning the award, borro was praised for its customer education, customer satisfaction and innovation.
The primary customer base of borro is small businesses or sole traders who need an influx of cash over the short term.
By using their personal possessions as security for the loan, they can access funds without a credit check being performed – with up to £1 million available against items like cars and yachts.
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