A corporation had big plans to purchase a building in Glasgow, UK, but their success came with a tight deadline. They needed to make the downpayment in a short period of time, but their traditional bank was unable to provide them with the funds in the necessary timeframe.
With time running out, the corporation reached out to Rikvin Capital for help. Rikvin Capital understood the urgency of the situation and jumped into action. They went through the necessary due diligence procedures, obtained a valuation, and generated the relevant documents, all with the goal of providing the corporation with the loan they needed.
The building was located in the heart of Glasgow and was considered a landmark, making it a valuable investment for the corporation. With the loan from Rikvin Capital, the corporation was able to make the downpayment and take the first step towards realizing their vision for the building.
This experience taught the corporation the importance of having a financial partner who was willing to go the extra mile to help them succeed. They were grateful for the support from Rikvin Capital and were looking forward to making their mark in Glasgow with their new building.
Problem
- A corporation had won a bid to purchase a building from the city council and needed to make the downpayment in a short period of time.
Solution
- Rikvin Capital was approached to provide a loan on an urgent basis.
- The site is located in the heart of Glasgow and is considered a landmark.
- After going through due diligence procedures, obtaining a valuation, and generating the relevant documents, Rikvin Capital provided the loan to the client.
Related: Read about when Rikvin Capital provided short-term financing for a service apartment
- Location: Glasgow, Scotland
- Market Value: £15,000,000
- Loan Amount: £900,000
- Loan-to-Value: 6%
- Duration of Loan: 3 Months
- Payment Schedule: Rolled-up Interest Paid at End
- Asset Type: Commercial Building
- Completion Time: 9 Days