Small Business in CT Improves Credit Score with Commercial Loan from WAC

March 27, 2017

Worth Avenue Capital, LLC is pleased to announce that it just successfully closed an $85,000 commercial loan to a small business in Old Saybrook, Connecticut. The loan proceeds were used for debt consolidation purposes and the loan is secured by a first mortgage on real property in Old Saybrook, Connecticut with an underlying LTV of 34%. The loan was funded by one of WAC’s private investors.

This bridge loan from WAC will allow the borrower to increase their credit score thus enabling them to obtain conventional financing which will allow them to pay off WAC’s bridge loan within six months or less. WAC was able to fund this loan within three days.