An individual had their sights set on purchasing a nursing home, but traditional banks deemed them unqualified for a loan. The individual was determined to make the purchase happen, but didn’t know where to turn.
That’s when they discovered Rikvin Capital. After a thorough due diligence process and receiving the valuation report, Rikvin Capital was able to provide the client with a £1,200,000 loan at a 60% LTV. The process was quick and efficient, and within a short period of time, the client was able to drawdown from the loan and make their dream of owning a nursing home a reality.
This experience showed the individual the power of having a financial partner who was willing to work with them and provide tailored solutions. They were grateful for the support from Rikvin Capital and were excited to begin the next chapter of their journey as a nursing home owner.
Problem
- An Individual required funding to purchase a nursing home and was not qualified to get one from traditional banks.
Solution
- After performing due diligence and receiving the valuation report, Rikvin Capital was able to provide the client with a loan of £1,200,000 at a 60% LTV.
- Within a short period of time, the client was able to drawdown from the loan and purchase the nursing home.
Related: Read about when Rikvin Capital extended a commercial property loan for the Met Tower in Glasgow
- Location: Wales, United Kingdom
- Market Value: £2,000,000
- Loan Amount: £1,200,000
- Loan-to-Value: 60%
- Duration of Loan: 8 Months
- Payment Schedule: Monthly
- Asset Type: Nursing Home
- Completion Time: 10 Days