2018
WAC Provides Commercial Loan for CT Small Business Debt Restructuring
Worth Avenue Capital
April 13, 2018
April 13, 2018: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $100,000 commercial loan to a Connecticut based small business for debt restructuring purposes. The loan is secured by a first mortgage on real property that is located in Old Saybrook, Connecticut with an underlying LTV of approximately 36%. The loan was funded by one of WAC’s private investors.
The borrower needed to consolidate some outstanding debts and WAC was able to fund the loan request within three days from the day of the request. The business is actively selling the piece of real estate in Old Saybrook and expects to have the property sold within 90 days or so thus enabling them to pay off WAC’s bridge loan.
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