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
Private Lending for Business Owners: Unlocking Liquidity Without Sacrificing Equity
Achieving business growth often requires more than strategy and determination. It requires access to capital. But with tightened credit markets making traditional bank...
Contractors and Private Capital: Financing Growth in Today’s Construction Economy
The construction industry is booming. Demand for new builds, renovations, and infrastructure projects remains high, but the cost of doing business has never...
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...