A high net worth commercial real estate developer in the Northwest with damaged credit needed to purchase a piece of equipment overseas for $950,000 to complete a commercial real estate project. He applied with several lenders, they all declined him because of his challenged credit.
After analyzing his file, we realized he had equity in his assets that could be collateralized to secure the loan for a large scale international equipment purchase.
He owned several real estate developments and equipment that were used as collateral to secure the loan.
Challenge: High net worth client had damaged credit because of late pays and was cash poor. Because of his industry–real estate– he was highly leveraged leaving him with little cash on hand to make a large scale international equipment purchase.
Solution: We located a lender who overlooked his damaged credit and got him approved for $950,000. With a combination of collateral to secure the loan, the developer financed the equipment and delivery to the United States.
Loan Product: Asset-Based Loan
Conclusion: Fund & Thrive played a pivotal role in transforming a dire situation for our high net worth commercial real estate developer. Overcoming credit challenges and a cash-poor scenario, our client successfully secured $950,000 for an international equipment purchase, thanks to the innovative approach of collateralized assets. This case stands as the perfect example to our unwavering commitment to delivering tailored solutions that allows our clients to realize their ambitious projects.
