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Long-term Needs

Depending on your business goals, you may need to make significant investments in your business, restructure financing arrangements or change the ownership structure of your business.

These goals usually require financing for capital expenditure.

You are on: Business Loan tab

This is a financing vehicle that is usually long term in nature and is usually secured with a charge over the asset being financed.

You may need to:

Solutions

Finance capital expenditure such as:

> Renovate, expand, upgrade and retrofit your existing plan
> Buy/build property for warehouse, parking etc
> Open new locations or enter new markets
> Buy a fleet of vehicles for delivery service
> Replace aging technology before obsolescence or for greater efficiency
> Cover initial/start-up expenses of a new business or product line 

Term loans (up to 10 years)
Commercial mortgages (up to 15 years) 
Debt restructure solutions to:
Consolidate current credit facilities into one single loan which can simplify
your accounting proces
Management buy-out solutions to:
Purchase controlling interest in the company from existing shareholders

You are on: Expatriate Loans (USD Mortgages) tab

RBC Royal Bank is pleased to offer Term loans for Non-Residents in the Caribbean: US$ Property Loans!

Purpose: To provide financing by way of Collateral Mortgages to foreign residents to build, purchase, and improve or any combination of these.
Types of Buildings: Owner occupied residential units (detached townhouse, condominium and duplex units).
Minimum Loan to Value: Will be ascertained by the location of the property being financed. The maximum lending value assigned to your property will be determined by; multiplying the lesser of the appraised value or cost by 70% (dependent on the country of origin) on the first 500,000 or up to 70% of the first $1 million to maximum of $2 million (i.e. net proceeds $350,000 or to $750,000 or $1.4 million respectively). The balance of funding available in excess of the $500,000 or $1 million or $2 million will be determined on a case by case basis.
Interest Rate:

Libor plus (premium is based on client credit worthiness). Minimum draw is $500M.

Fixed Rate (in participating countries where the fixed rate option is available, the premium is based on client credit worthiness). Minimum draw is $500M.

Amortization: Up to 10 years and to qualifying borrower, a maximum of 15 years (on variable rate loans only early repayment allowed without notice or penalty except in Barbados where notice is required)
Fees: All related legal & government fees plus an Administration Fee ranging from 1% to 1.25% in the various countries. (Financing involving construction, additional 1% to cover site inspections).
Maximum Age: Present age of principal earner plus loan amortization not to exceed 65 years. (Some exceptions may apply).
Requirements:

Current personal statement of affairs and if a company, we require audited financial statements for the last three years from a reputable Chartered Accounting Firm.

Satisfactory bank references of minimum of 3 years (2 minimum-originals) from banks acceptable to RBC Royal Bank. Total Debt Servicing Ratio is not to exceed 40%.

In some countries approval from the respective Central Bank &/or the Foreign Investment board may be required.

Proof of Income to service the debt (i.e. Employment Letters / Income tax return for the last two years)

Standard documentation for account maintenance at RBC Royal Bank, Credit Report, Sales Agreement, and Property Appraisal. Two forms of Government Issued ID for each Applicant

Collateral Security:

Registered First Charge over property. Stamped for full amount of the mortgage.

Title searched by lawyer approved by RBC Royal Bank

Property insurance coverage – all risks

Life insurance (May be Mandatory in some jurisdictions and Optional in others)

Co-signature/guarantee of spouse if applicable

In some countries Central Bank / Investment Board Approval may be required

Contact your local branch today for more information.

Living abroad? Planning to move abroad? We can help you make the most of your experience.

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