Short on cash? Just reach for the bottle

02/23/2012 | Reuters

Wealthy people who find themselves temporarily short of cash are raiding their wine cellars in pursuit of liquid assets. Some pawn shops accept cases of expensive wine as collateral for six-figure loans, offering a helping hand to bankers and businessmen with less-than-stellar credit ratings. "We lend up to 70% of the value of the wines," said Richard Mews of Prime Asset Loans. "It is quick, easy and there are no fees."

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