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June 20, 2016
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $100,000 commercial loan to a Connecticut-based real estate investor. The loan proceeds will be used by the borrower to consolidate some business debts. The loan is secured by a first mortgage on real property in East Haven, Connecticut with a LTV of approximately 26%. The loan was funded by one of WAC’s private investors.
WAC funded this loan within four days from the actual loan request. The borrower has one of their real estate holdings under contract for sale and expects to pay off WAC’s bridge loan within six weeks.
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