Rikvin Capital provided a loan to a repeat client who had troubles paying off his outstanding
- A repeat client had refinanced a portfolio of properties with a challenger bank at a very competitive interest rate
- However, the amount provided by the challenger bank was not enough to pay off the outstanding loan
- The client then approached Rikvin Capital for assistance
- Since the client was a repeat customer with good credit history with Rikvin Capital, we were able to provide the required funds for the client to complete the refinance with the challenger bank
- The client pledged the shares of the company that owed the portfolio of properties to Rikvin Capital to provide us with sufficient security
Read about when we provided a client with a loan when he maxed out his Total Debt Servicing Ratio (TDSR) here.