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Spain: +34 952 820 319
UK Freephone: 0808 160 0670 | EIRE Freephone: 1800 932 514
Commercial Financing Ready and Waiting!
Commercial Financing Ready and Waiting!
Obelisk Private Finance is pleased to announce the availability of commercial financing for a wide range of projects worldwide. Through Obelisk Private Finance, developers of commercial projects anywhere in the world have access to highly favourable financing terms and conditions.
In the light of the subprime crisis, banks and other high street lenders globally have tightened their lending criteria and reined in credit facilities. As a result, many businesses are now finding it difficult to obtain finance; developers of commercial projects have been particularly hard hit. “We are very conscious of this problem,” says Ken Thorkildsen, Director of Obelisk Private Finance, “and our new product offers an alternative financing source other than banks and other traditional lenders.”
Obelisk Private Finance is able to offer commercial funding through a US-based revenue stream of a number of separate investment bodies consisting of high net worth individuals, hedge-based funds and pension-based funds. These investment bodies are currently actively looking for projects to finance.
Eligible projects cover a vast spectrum of commercial activities such as hotels, shopping centres, resorts, warehouses and retail buildings. However, the investment bodies are particularly interested in providing financing for projects with a slightly more unusual stance. According to Ken, these include renewable energy projects – very much in vogue in many countries such as Brazil, Spain and Portugal – projects with a humanitarian background, projects creating economic development (e.g. jobs) for the proposed project area and projects involving patent-holding companies.
This new commercial financing product comes with highly favourable terms. The minimum amount eligible for a loan is €1 million for projects in Europe and US$5 million for those based elsewhere in the world. Interest rates are based on the US LIBOR and dependent on loan size. Loans are non-recourse and terms are usually 18 to 36 months with rollover provisions available. Interest-only and deferred-interest options are also available.
“We can service any type of land or property as long as it’s eligible for financing,” says Ken, “and as always at Obelisk Private Finance, we personalise the service to suits the client’s requirements.”
For more information about this unique commercial financing opportunity, contact Obelisk Private Finance on freephone UK 0808 160 0670, Eire 1800 932 514, commercial@obeliskfinance.eu.
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