2020
WAC Closes Bridge Loan for Restaurant/Market on CT Shoreline
Worth Avenue Capital
January 28, 2020
January 28, 2020: Worth Avenue Capital, LLC is pleased to announce that it successfully closed a $100,000 commercial bridge loan to a well known restaurant/market that is located in the center of one of the Connecticut Shoreline’s towns. The loan proceeds were used by the borrower for working capital purposes and the loan is secured by a first mortgage on a historic commercial building where this business is located with an underlying LTV of approximately 10%.
This business is a repeat borrower of WAC’s and they expect to pay off the bridge loan through general cash flow within one year or less.
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