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|
|Duration of Loan||3 Months|
|Payment Schedule||Rolled Up|
|Asset Type||Commercial Property|
|Completion Time||1 Week|
- 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.
- 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