News: Front Section
Posted: April 15, 2016
Worth Avenue Capital closes $100,000 line of credit for small business
Dartmouth, MA Worth Avenue Capital, LLC (WAC) closed a $100,000 line of credit for a FL-based small business that specializes in raising capital for libraries through a miniature golf platform. The loan proceeds will be used for short-term working capital purposes and the loan is secured by a mortgage on investment property. The loan was funded by one of WAC’s private investors.
As a result of this influx of fresh debt capital, the borrower will now be able to grow its revenue and footprint as it can now satisfy the increased demand for its services that it has experienced during the last several months. This company should be able to obtain a conventional bank loan within the year that will enable it to pay off WAC’s bridge loan.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
Columns and Thought Leadership
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.