The Client
Singapore PR with a maritime business uses GMG Bridge Loan to purchase equipment to service whilst awaiting an international government contract.
The Property
Luxury penthouse condo in District 9 with a current SG bank loan.
The Deal
To secure S$4,000,000 to purchase new equipment required for a large and lucrative contract.
The Challenge
Client had decreasing cash flow and liquidity needed to obtain a standard Singapore bank loan nor could he wait for the lengthy underwriting period required. He needed immediate funds to take advantage of a business opportunity which would expand his business. Current loan was with a local Singapore bank and required a three month redemption notice.
The Solution
GMG reached out to our family office network to secure a first position loan. Assisted the client to liaise with the bank holding his mortgage to get an immediate release. Closed the transaction with 6 working days giving the client the required funds needed to purchase the equipment and secure the contract.
Loan Details
| Loan Type | Property Value | Loan Amount | LTV | GMG Program |
| Bridge Cash-Out | $7,000,000 | $4,000,000 | 57% | GMGSG Bridge |
| Loan Type | Bridge Cash-Out |
| Property Value | $7,000,000 |
| Loan Amount | $4,000,000 |
| LTV | 57% |
| GMG Program | GMGSG Bridge |
