2025
WAC Closes $300,000 Small Business Loan in Branford, CT
Worth Avenue Capital
January 13, 2025
January 13, 2025: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $300,000 commercial loan to a small business that is based in Branford, CT. The loan proceeds will be used to restructure some of the company’s debt as well as for working capital purposes and the loan is secured by a junior mortgage on a luxury beachfront condominium in Naples, Florida with an underlying LTV of approximately 30%.
The company is one of WAC’s numerous repeat borrowers and they are in the process of selling the assets of their company along with their real estate to a strategic buyer. Upon the closing of the sale of those assets, the borrower will pay off WAC’s short term bridge loan in full.
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