March 1, 2020
In
Development finance
Backing property development
Amount:$1.2M
Term:6 months
Exit Strategy:Presale of the projects enabled the borrower to refinance the remaining debt through a major bank.
The borrower was completing four separate projects at various construction stages. One of the projects was 90% complete and delayed due to poor weather conditions. This resulted in cash flow issues for the borrower.
Amount:$1.2M
Term:6 months
Exit Strategy:Presale of the projects enabled the borrower to refinance the remaining debt through a major bank.