$259K Private Second Mortgage Secured by Home Equity Launches New Accounting Practice

Client: Accounting Firm Partner, British Columbia Property Value: $1,200,000 CAD Loan Amount: $259,000 CAD via Private Second Mortgage

An experienced senior partner at a leading accounting firm made the decision to leave and establish his own practice. To fund startup costs—including office space, licensing, and staff—he looked to leverage the home equity in his primary residence. However, conventional lenders capped their loan-to-value limits below what was needed, leaving a financing gap.

Syndicate Lending provided a strategic private second mortgage of $259,000, secured against the property. The private financingsolution was underwritten based on a current appraisal and the client’s strong professional profile. The facility carried a fixed rate of 14.99% with a 1% lender fee, and was funded within 10 days.

The capital enabled a timely launch of the new accounting firm, preserving operating liquidity and ensuring a smooth onboarding of mid-market clients. Within six months, healthy revenue growth allowed the client to refinance the facility into a conventional credit line—fully repaying the second mortgage.

This case demonstrates how private financing, backed by home equity, can bridge funding gaps for professionals launching new ventures—especially when a second mortgage is needed and traditional lenders can’t deliver. Discover how we’ve helped clients secure the funding they needed by exploring our case studies. Visit our services page to see everything we can do for you.

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