|Loan Amount||S$ 7,600,000|
|Duration of Loan||6 Months|
|Payment Schedule||Monthly Interest Payment|
|Asset Type||Commercial Building|
|Completion Time||3 Days|
- A company had purchased a commercial property and paid a 30% downpayment.
- Due to Covid-19, the Local Bank that was supposed to lend 70% to the company had tightened their lending regulations and reduced their LTV to 50%.
- The company had to quickly source for a temporary funding solution for the property within 7 days to avoid the forfeiture of their $3.25M downpayment.
- The company approached Rikvin Capital to help them complete the purchase of the property.
- To help the borrower, Rikvin capital quickly performed due diligence & underwriting, getting legal agreements drafted and disbursed the loan within 72 hours.
- The borrower subsequently found a bank to refinance the mortgage and repaid their loan with Rikvin Capital.
Are you looking to fund your business?
Liaise with a dedicated specialist when you engage us for our short-term loan services. We will walk you through every step of the loan application.