In the first 10 days the asset lender issued $100,000 in loans via an online soft launch.
It will apply the same model it used in the UK and will provide loans of up to $1m USD to the New York and Tri-state area.
The lender said the majority of its UK customers were entrepreneurs and small business owners.
The United States Census Bureau says there are 2.3m small business owners and sole proprietorships in the New York Metropolitan area alone.
Paul Aitken, chief executive officer at Borro, said: “Our experience in the UK over the past three years proves the need and value of the Borro model. Our UK business has grown four-fold each year, and we have already seen a demand for our services in New York.”
In the UK Borro said it saw a 300% increase in customers borrowing against their personal assets last year.
Borro’s UK vaults and specialist storage contained assets which were in excess of £20m.
In 2011 the average loan value increased to £3,500, up from £1,000 in 2010.
