2017
Deli/Restaurant in CT Takes Advantage of WAC’s Second Mortgage Product to Consolidate Debt
Worth Avenue Capital
May 9, 2017
May 9, 2017
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $300,000 commercial loan for a deli/restaurant that is located on Route 1 in the “hub” of Darien, Connecticut. The loan proceeds were used to consolidate debt and the loan is secured by a second mortgage on the business’ property located in Darien, Connecticut with an underlying LTV of 58%. The loan was funded by one of WAC’s private investors.
The borrower was able to take advantage of WAC’s second mortgage product and streamlined loan approval process to enable the business to quickly access capital and pay off various creditors and obtain much needed working capital for its day to day operations.
The borrower will pay off WAC’s bridge loan either by obtaining permanent bank financing or the sale of the property.
Share
Recent Posts
WAC Provides $400,000 Bridge Loan for Greenwich Real Estate Investor
March 7, 2025: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $400,000 commercial loan for a Connecticut...
The Changing Landscape of Private Lending – Why Choosing a Reputable Lender Matters
A New Era for Private Lending The private lending industry is undergoing a significant transformation as shifts in financial oversight take shape. The...
Private Lending vs. Traditional Bank Loans: Which is Right for You in 2025?
Navigating the Lending Landscape in 2025 With economic uncertainty and fluctuating interest rates, securing financing in 2025 requires a strategic approach. Borrowers, whether...