Rikvin Capital saves client SGD 2 million deposit after client experiences funding troubles with a local bank
| Location | Raffles Place, Singapore |
| Market Value | S$ 33,000,000 |
| Loan Amount | S$ 23,000,000 |
| Loan-to-Value | 70% |
| Duration of Loan | 3 Months |
| Payment Schedule | Rolled Up |
| Asset Type | Commercial Property |
| Completion Time | 1 Week |
Problem
- An Individual was a week away from completing the purchase of an entire office floor at a prominent office building
- Due to internal policies, the individual’s bank pulled out from funding at the last minute.
- Without payment, the individual would lose the deposit of S$2M for the office.
Solution
- The individual approached Rikvin Capital for assistance and after thorough KYC and due diligence was complete, we were able to help our client complete the purchase of the office unit
- The Individual did not have to give up his S$2M
- Shortly after completing the purchase, the individual managed to refinance with a bank
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