The Client
Singapore PR with a penthouse condo in Sentosa.
The Property
Luxury penthouse condo in Sentosa valued at S$9m.
The Deal
To secure S$3,500,000 to buy out client’s business partner.
The Challenge
Client’s business struggled over the past couple years and showing cash flow was a challenge. This situation was only temporary as buying out his business partner and merging with another entity would provide significant income in the following year.
The Solution
GMG's solution, in the form of a bridge loan, was to get an asset based loan which didn’t look at the current client’s financials but took into consideration the business plan once the buyout and merger was completed.
Loan Details
| Loan Type | Property Value | Loan Amount | LTV | GMG Program |
| Bridge - cash out | $9,000,000 | $3,500,000 | 39% | GMGSG Bridge |
| Loan Type | Bridge - cash out |
| Property Value | $9,000,000 |
| Loan Amount | $3,500,000 |
| LTV | up to 80% |
| 39% | GMGSG Bridge |
