Frequency Allocation Problem in wireless cellular networks is a major area of research in telecommunication industries. Since users of mobile phones are increasing exponentially, the existing limited frequency spectrum is unable to provide services efficiently. To enhance the performance of the networks, some measures must be taken to reduce drop call probabilities due to non availability of free frequency. The existing frequency allocation scheme call "hybrid with borrow" drops the calls regularly if frequencies are not free in a given cell. In this paper, we have developed a new scheme called "HYBORROW", which elegantly increases the utilization of new drop call probability by 20% over an existing scheme by borrowing the frequencies from neighbor cells.