15 Oct $200,000 Commercial Loan for CT Manufacturing Company
October 15, 2012
Worth Avenue Capital Closes $200,000 Commercial Loan
Worth Avenue Capital, LLC is pleased to announce that it has just closed a $200,000 commercial loan for a boutique manufacturing company in Connecticut. The loan proceeds were used by the company to both restructure their debt as well as provide additional working capital to the company. The company just received a large order from an overseas customer that needed to be filled and the working capital that was generated from this loan closing will allow the company to complete the order for their customer. The loan was secured by a blanket mortgage on several pieces of real estate that are owned by the principals of the company and the loan was funded by one of WAC’s
private lenders. As a result of the continued distressed economy, the company was unable to obtain a conventional bank loan but was able to secure the funding through WAC’s efforts. This new financing will allow the company to increase its revenue and grow its profits significantly.
WAC specializes in raising debt capital for small closely held companies and also provides advisory services to those same small businesses who require a bank workout. You can learn more about WAC by taking a look at our website at worthavenuecapital.com. You can reach WAC’s principal, Michael M. Ciaburri at worthavenuecapital@gmail.com or (203)605-4082. The company recently opened a new office in Westport, Connecticut.