04 Jun Debt Restructuring For Connecticut Based Construction Company
June 4th, 2012
Debt Restructuring For Connecticut Based Construction Company
Worth Avenue Capital, LLC is pleased to announce that it has successfully closed another bank workout for another small business client. WAC played an important role in negotiating a debt restructuring totaling $465,000 for a Connecticut based construction company with a community bank that is also headquartered in Connecticut. Prior to WAC’s involvement with this client, the bank was in the process of preparing to demand full payment of the company’s loans with the bank as one of these loans had already fully matured. WAC was retained to work directly with the bank and was not only able to convince the bank to refrain from demanding full payment of these loans, but also restructure all of the company’s bank debt; extend the maturity dates; and reduce the interest rate on one of the loans by 39%. This rate reduction will save WAC’s client approximately $9,300 annually and approximately $93,000 over the course of the full term of the loan. In addition, by completing this debt restructuring, WAC’s efforts were instrumental in extricating the client from potentially expensive and damaging litigation with the bank.
In order to learn more about WAC, you can view our website at worthavenuecapital.com or you can email Michael Ciaburri at email@example.com or call him at (203)605-4082