22 Jul Nantucket Commercial Loan Closed in 10 days
July 22, 2014
WAC Closes Commercial Loan on Nantucket
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $250,000 commercial loan for a Connecticut-based manufacturer and distributor of printing products.
The company was experiencing difficulty in obtaining either a conventional bank loan or equipment financing and they needed to raise cash quickly so that they could purchase some new equipment for their business at an upcoming auction.
Since time was of the essence, WAC used its alternative lending product and arranged the financing with one of its private lenders and closed the transaction in approximately ten days. The company now has the necessary capital to purchase much-needed equipment for their business operations.
The loan is secured by the principal of the company’s investment property on Nantucket as well as the equipment that the company is purchasing.