The CEO of a public listed company recently moved to Singapore and had his sights set on purchasing two luxury vehicles, a limited edition Ferrari and a Rolls Royce. However, local banks were uninterested in providing a loan due to the individual’s lack of credit history in the country. Time was running out and the chance to own the limited edition Ferrari was slipping away. That’s when Rikvin Capital stepped in and saw the value in the luxury vehicles. Within days, Rikvin provided a loan of S$1,200,000 to help the individual secure the cars of his dreams. Although it took some time, the CEO was eventually able to secure a bank loan and repay Rikvin Capital. But the memory of the dramatic turn of events and the adrenaline rush of owning those vehicles would remain with him forever.
| Location | Singapore |
| Market Value | S$ 2,000,000 |
| Loan Amount | S$ 1,200,000 |
| Loan-to-Value | 60% |
| Duration of Loan | 6 Months |
| Payment Schedule | Rolled-Up Interest Payment |
| Asset Type | Motor Vehicle(s) |
| Completion Time | 9 Days |
Problem
- 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.
Solution
- 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.
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