31 Mar WAC Closes Loan for Small Construction Company
March 31, 2016
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $50,000 commercial loan to a small construction company that is based in Durham, Connecticut. The loan proceeds will be used by the borrower as working capital for two different construction projects that the company is currently undertaking. The loan is secured by a mortgage on an investment property in Guilford, Connecticut and the loan was funded by one of WAC’s private investors.
The borrower has the Guilford, Connecticut property listed for sale with a real estate broker and will pay off WAC’s bridge loan upon the sale of that property.