BUSINESS LOAN - 90% LTV COMMERCIAL UNIT PURCHASE
Designer Capital worked with our client to purchase a Commercial Retail Storefront in Vancouver, BC for $1,005,000.
Our client was referred to Designer Capital as she was looking for financing to purchase and renovate a commercial retail storefront in Vancouver, BC. The client was previously working as an independent contractor and incorporated a new company in the previous year to create an independent brand.
Having started a new company, the client was running into issues with her main banking institution as they wanted to have at least 2 years of financial statements to qualify the client for the loan.
Working with our exclusive lending partners at a Big 5 Bank, we were able to work with the client under the Canadian Small Business Financing Loan program by leveraging the client’s experience as an independent contractor and creating projections for future revenue. Designer Capital was able to achieve this Novel Financing Solution:
Mortgage Amount: $918,000 (over 90% Loan to Value)
Loan facilitated by Canadian Small Business Financing Loan, allowing for purchase of the commercial storefront and funds for leasehold improvements.
Big 5 Bank commercial loan rates, with the opportunity to refinance in the future for lower rates as the business financials improve.
Designer Capital’s Unbiased Advice allowed the client to purchase a Commercial Retail Storefront in a prime location, as well as having funds for leasehold improvements and renovations. Our experience with corporate clients and commercial financing were a large part of the approval process, as we helped the client formulate her business plan and projections for future revenue.