19 Sep WAC Funds Loan for Entrepreneur in Fairfield County Within One Week
September 19, 2017
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $100,000 commercial loan to a business related LLC that is controlled by an entrepreneur in Fairfield County, Connecticut. The loan proceeds are being used for working capital purposes for a new business and the loan is secured by a first mortgage on real property that is located in Easton, Connecticut with an underlying LTV of approximately 20%. The loan was funded by one of WAC’s private investors.
The borrower was able to take advantage of WAC’s streamlined loan approval process as the loan was funded in about one week from application. WAC’s bridge loan is expected to be repaid in full within one year or less from either the sale of the property or the refinancing of the property in Easton, Connecticut.