2021
Established Small Business Uses Short Term Bridge Loan from WAC to Succeed
Worth Avenue Capital
November 22, 2021
November 22, 2021: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $125,000 commercial loan to a long established small business in New Haven, Connecticut. The loan proceeds will be used for working capital purposes and the loan is secured by a second mortgage on a well appointed property in New Haven County, Connecticut with an underlying LTV of 55%.
The borrower is a very well known small business that quickly needed access to a short term bridge loan and WAC was able to fund this loan request within one week. Prior to contacting WAC for their financing needs, the borrower initiated a loan request with a local bank who expects to fund the borrower’s loan request within a few months thus enabling the borrower to pay off WAC’s bridge loan in full.
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