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News: Front Section
Posted: June 30, 2017
Worth Avenue Capital closes $225,000 commercial loan
Westport, CT Worth Avenue Capital, LLC closed a $225,000 commercial loan to a Connecticut based small business that specializes in analyzing sports performance for both amateur and professional athletes. The loan proceeds will be used for both debt consolidation and working capital purposes and the loan is secured by a first mortgage on real property that is located in Fairfield County, Connecticut with an underlying LTV of approximately 30%. The loan was funded by one of WAC’s private investors.
The borrower expects to be able to obtain an SBA loan from a conventional lender within one year or less, that will enable it to pay off WAC's bridge loan.
WAC specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients.
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