16 Mar Borrower Supported by WAC with Quick Short-Term Bridge Loan Used for Business Operations
March, 17, 2023: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $450,000 commercial loan for a small business in Connecticut. The loan proceeds were used for working capital purposes and the loan is secured by a second mortgage on an estate in “tony” Westport, Connecticut with an underlying LTV of 42%.
The borrower needed some quick short term bridge financing for its business operations and WAC was able to fund the loan request within three business days from the day that it received the loan request. The property in Westport, Connecticut is listed for sale and WAC’s short term bridge loan will be paid off in full upon the sale of the property.
Worth Avenue Capital specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients. You can learn more about WAC by taking a look at the website and Youtube videos or by contacting WAC’s principal, Michael M. Ciaburri at worthavenuecapital@gmail.com or (203) 605-4082. WAC maintains offices in both Guilford and Greenwich, Connecticut as well as Palm Beach, Florida. Be sure to follow @worthavecapital on Twitter for the latest lending news.
Worth Avenue Capital specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients. You can learn more about WAC by taking a look at the website and Youtube videos or by contacting WAC’s principal, Michael M. Ciaburri at worthavenuecapital@gmail.com or (203) 605-4082. WAC maintains offices in both Guilford and Greenwich, Connecticut as well as Palm Beach, Florida. Be sure to follow @worthavecapital on Twitter for the latest lending news.