PRIVATE EQUITY TAKE-OUT - RUSH CLOSING
Designer Capital worked with our client to complete an Equity Take Out to fund a business venture.
The client was referred to Designer Capital as they required immediate access to funds for a business venture – the client was working with a new company to complete their launch on the open market and required $2,800,000 within 3 business days. The client owns a home in West Vancouver that is free and clear, but was running into issues with banks private lenders due to the large loan that was requested and the funding timeline.
Designer Capital was able to work with a Private Lending Partner to secure this Novel Financing Solution:
Equity Take-Out: $3,000,000
Private Lender – Equity Based Lending – Approval was based on the property value determined by an appraisal report
Open Term – Full payout of the loan was allowed as long as 3 months interest was paid
Designer Capital was able to provide Unbiased Advice and work with our Private Lending Partner to provide the ideal financing solution for our client. The total loan of $3,000,000 covered the client’s costs associated with the loan and gave the client a payment reserve to service the loan. Our lender was able to fund the loan within 2 business days after receiving the completed appraisal report and supporting documents from the client.
Designer Capital’s Unique Knowledge and relationships with Private Lenders allowed us to provide a flexible solution for the client to utilize the equity in their home on an extremely tight timeline to fund their business venture. The client expects to repay the loan within 6 months after receiving compensation from the business venture.