To provide yacht acquisition financing within a very short window. The buyer had already opened escrow to purchase a beautiful 90′, 1-year old yacht at a discount. The seller only allotted 3-weeks to close, thus, time was of the absolute essence in closing the transaction.
Due to the tight time frame, Assets America successfully provided a solution by arranging a $7 to $8 million credit line facility at an incredibly low interest rate of Libor + 1.00% = 1.14%. This credit line provided our borrower (buyer) with sufficient liquidity to pay cash for the vessel. It was a win-win for everyone.