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Handbag-backed loans tide over Hong Kong's wealthy

from The Wall Street Journal

When 30-year-old homemaker Maggie Wong is tight on cash, all she needs to do is reach for her designer purse — and then hand it over to a loan officer. Say hello to the handbag-backed loan. While typical lenders often ask for cars and homes as collateral, Hong Kong's Yes Lady Finance Co. deals in borrowers' beloved handbags. more


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