News: Front Section
Posted: February 28, 2013
Worth Avenue Capital, LLC closes $400,000 commercial loan to Connecticut contractor
Worth Avenue Capital, LLC (WAC) has closed a $400,000 commercial loan to a commercial contractor in Connecticut. The loan was secured by a first mortgage on commercial property that is owned by the principals of the company and the loan was funded by one of WAC's private lenders. Of utmost importance was the fact that WAC was able to close this transaction within 48 hours from the time that the loan application was submitted to WAC. Once again, WAC was able to service their client in a rapid and expedient manner and was able to provide much needed working capital to the borrower. The loan proceeds were used by the borrower to consolidate some debt as well as enable them to bid for additional work that was previously unavailable to them due to capital constraints.
WAC specializes in arranging debt financing for small businesses and real estate developers/investors and handles bank workouts for those same clients. WAC maintains offices in both Guilford and Westport, Conn.
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