Rikvin Capital provides a short-term loan for refinancing in Singapore
The individual approached Rikvin Capital for a refinancing solution. Rikvin Capital evaluated the client’s property and provided a short-term loan with a lower interest rate. The loan was secured against the property and the previous loan was paid off. This allowed the client to have access to working capital for their business at a more favorable interest rate, improving their financial situation.
- The individual was paying a high-interest rate every month on his previous short-term loan.
- The client only required a loan-to-value of 55% on his security to use as working capital in his business.
- After performing the necessary due diligence, Rikvin Capital was able to provide the client with a short-term loan at a reduced interest rate.
- Rikvin Capital took over the first charge of the property after the client repaid the previous debtor.
|Location||Bukit Timah, Singapore|
|Market Value||S$ 36,000,000|
|Loan Amount||S$ 20,000,000|
|Duration of Loan||12 Months|
|Payment Schedule||Monthly Interest Payment|
|Asset Type||Good Class Bungalow|
|Completion Time||14 Days|