02 Jun WAC Closes Line of Credit for MA Construction Company
June 2, 2016
Worth Avenue Capital, LLC is pleased to announce that it successfully closed a $100,000 Line of Credit for a small construction company in Massachusetts that specializes in environmental consulting. The loan is secured by a blanket mortgage on a property in Mashpee, Massachusetts (Cape Cod) as well as a mortgage on a property in Martha’s Vineyard, Massachusetts. The loan proceeds will be used for working capital purposes by the borrower and the loan was funded by one of WAC’s private investors.
The Principal of this small construction company is a high level member of a Native American Indian Tribe in Southeastern Massachusetts. This Tribe just received government approval to build a new casino in Southeastern Massachusetts.
WAC closed this loan within one week from the day that the borrower inquired about obtaining financing from WAC.