|Location||Central Business District, Singapore|
|Market Value||USD 8,300,000|
|Loan Amount||USD 5,800,000|
|Duration of Loan||3 Months|
|Payment Schedule||Balloon + Monthly Interest Payment|
|Completion Time||3 Days|
- A family office had liquidity issues during the Covid-19 Pandemic.
- They needed money for working capital for their other investments.
- Banks had tightened their lending criteria during the pandemic.
- The family office approached Rikvin Capital for a short-term working capital loan secured against one of their shophouse units in CBD.
- Rikvin Capital performed due diligence on the property and borrower and lent 5.8M USD (70% LTV).
- Once the family office had resolved their liquidity issues, they redeemed their loan with Rikvin Capital.