06 Feb Closed $100,000 Commercial Loan for Connecticut Company
February 9, 2015
WAC Closes $100,000 Commercial Loan for CT Based Sheet Metal Manufacturer & Distributor
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $100,000 commercial loan for a Connecticut based manufacturer and distributor of sheet metal products. The loan proceeds will be used by the company for working capital purposes and the loan was funded by one of WAC’s private lenders. The loan is also secured by a blanket mortgage on two buildings that are owned by the principal’s of the company as well as a blanket UCC-1 filing on the company’s business assets.
The company’s revenue grew by 33% between 2013 and 2014 from approximately $6,000,000 in 2013 to approximately $8,000,000 in 2014. As a result of their explosive growth during that time period; the company will use the additional working capital to fund their outstanding Accounts Receivable.
WAC 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 their website and Youtube video at worthavenuecapital.com and by contacting WAC’s principal, Michael M. Ciaburri at firstname.lastname@example.org or (203)605-4082. WAC maintains offices in both Guilford and Westport, Connecticut. You can now follow @worthavecapital on Twitter for the latest lending news.