|Market Value||S$ 2,000,000|
|Loan Amount||S$ 1,200,000|
|Duration of Loan||6 Months|
|Payment Schedule||Rolled-Up Interest Payment|
|Asset Type||Motor Vehicle(s)|
|Completion Time||9 Days|
- A High Net Worth Individual (HNWI), who is a CEO of a public listed company, had recently moved to Singapore and purchased a limited edition Ferrari and a Rolls Royce.
- Local banks were not able to provide financing as the individual had no credit history within Singapore.
- Without a loan, the individual was going to lose his allocation to the limited edition Ferrari.
- Rikvin Capital recognised the value of the vehicles and was able to provide S$1,200,000 to complete the purchase.
- The HNWI managed to secure a bank loan after 6 months.