Vermont Restaurateur Obtains Working Capital from Worth Avenue Capital
May 26, 2017
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $175,000 commercial loan for a restaurateur who owns three restaurants in Vermont. The loan proceeds were used for working capital purposes for the three restaurants and the loan is secured by a second mortgage on real property in Connecticut with an LTV of approximately 53%. The loan was funded by one of WAC’s private investors.
This borrower is a repeat client of WAC. Since restaurants historically have difficulty obtaining conventional bank financing, the borrower once again turned to WAC to take advantage of our streamlined loan approval process which resulted in his company being able to access much needed working capital in a rapid manner.
Recent Posts
Using Second Mortgages as Additional Collateral for Construction Loans
Over the past several months, WAC has provided financing for multiple construction projects where second mortgages were a critical part of the overall...
Strategic Financing Leads to Luxury Home Success in Greenwich
Worth Avenue Capital congratulates our borrower, Dream Home Custom Builders (DHCB), on the successful sale of 273 Riversville Road in Greenwich, Connecticut. This...
Changing Investment Preferences for Baby Boomers: Why Private Credit is on the Rise
The investment landscape for Baby Boomers has undergone a significant shift in recent years. Faced with ongoing stock market volatility driven by the...