If you’re considering a home equity line of credit, HELOC, we can do you one better. Meet the GELOC, Gold Equity Line of Credit. At Qollateral, we provide a revolving equity line of credit on gold, including gold jewelry, watches, bullion, and coins. We call it GELOC, and it’s similar to a collateral loan against gold, but instead of one same-day cash payment, you can access same-day cash payments up to the total value of your gold over an extended period of time. Let’s dive right into what exactly a gold equity line of credit is and what its many benefits are.
What Is A GELOC?
GELOC is Qollateral’s coined term for a gold equity line of credit. It’s an open line of credit that allows you to obtain cash funds on an ongoing basis up to the total estimated value of your gold assets. It’s as simple and quick as a collateral loan, but it’s longer-term, and you can borrow as much or as little cash as you need against your gold assets, whenever you need it. It is the ultimate capital safety net.
For the length of your GELOC, your gold assets will be waiting for you in one of our ultra-secure vaults. It’s an excellent way to take advantage of your gold assets.
Why Consider A Gold Equity Line Of Credit?
There are many reasons you would want to consider a gold equity line of credit.
Many of us have gold assets already that are not serving us on a daily basis, such as old gold jewelry. Instead of keeping your gold stored at home, we’ll keep it stored in one of our state-of-the-art vaults. Most likely, they’ll be safer there, and they’ll be put to good use. It’s much more desirable to use these gold assets for a revolving line of credit than your home or a credit card cash advance if you think you’ll need a cash flow solution that will last for a few years. It’s not as risky, and it’s a lot faster.
For one, a GELOC does not require a credit check. Like a collateral loan, your loan value is determined uniquely on the value of your gold assets, not your ability to pay. Similarly, there is not the same amount of paperwork as a HELOC. The process for establishing a line of credit against your gold at Qollateral is the same quick and easy process our clients love when getting a collateral loan. Simply book an appointment to have your gold appraised by one of our friendly and knowledgeable experts, sign our succinct and easy-to-understand contract agreeing to the terms of your revolving line of credit, and access your cash instantaneously whenever you need it.
Another huge plus is that right now is a particularly advantageous time to borrow against your gold, with gold trading prices currently at a record high of $2,000 per ounce. Gold trading prices are famously erratic, fluctuating wildly and nearly impossible to predict, so if you are considering selling or borrowing against gold, now’s the time (more about that here). Our clients are always surprised to see just how much their gold is worth when they come in to borrow or sell.
At Qollateral, we have the highest loan value in the industry for borrowing against gold. We recommend booking an appointment to come in for a no-pressure appraisal to get an idea of what your gold assets are worth. We buy and loan against gold coins, bullion, jewelry, and watches. To get an idea of what assets we most frequently buy or loan against, visit the Assets we accept page of our website.
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