Toronto-Based FULECap Introduces Innovative Concept in Commercial Real Estate Financing

FULECAP | June 17, 2020

Toronto-Based FULECap Introduces Innovative Concept in Commercial Real Estate Financing
Toronto-based company, FULECap, has recently made its debut into the Canadian real estate marketplace by innovating a virtually unlimited and rapidly-available Refundable Deposit Financing (RDF) for commercial real estate buyers. The RDF program provides commercial real estate buyers with short-term deposit capital during the Due Diligence (DD) period, typically the 30 to 90-day cycle before the deal is considered firm. Each deposit loan is held in the vendor’s lawyer’s trust account until the maturity of the DD period. The COVID-19 pandemic has greatly impacted both the global and Canadian economies, creating challenging times for individuals and businesses. Many financial institutions are hesitant to lend to borrowers out of fear that they may be unable to pay.

Spotlight

In the buying and selling of real estate, the escrow or settlement officer acts as a neutral third party – holding the documents (such as the sales contract and the requirements of the new lender) and the deposited funds (such as the earnest money) from all parties. This video highlights the important role escrow plays in a real estate transaction.

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Spotlight

In the buying and selling of real estate, the escrow or settlement officer acts as a neutral third party – holding the documents (such as the sales contract and the requirements of the new lender) and the deposited funds (such as the earnest money) from all parties. This video highlights the important role escrow plays in a real estate transaction.