Mandate was secured from a High Net Worth individual looking to build a luxury second home in the Caribbean. Funding was required to support the land purchase and associated development costs. The Client ideally required finance from a local institution that had knowledge of the local marketplace.
After extensive background research a number of local providers were contacted. Further background research proved to be invaluable as the individual institutions appetite levels and importantly capital positions for funding of this size were discussed.
This narrowed the institutions down to three with the ability and appetite to support the proposed funding. Formal terms were requested from each institution and the ultimate decision was made by a combination of the most favourable terms and track record for delivery.
Banking lines were agreed in principle for funding estimated at $10m.