2020
WAC Provides Loan for Start-Up in Wesport, CT
Worth Avenue Capital
September 28, 2020
September 28, 2020 –
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $275,000 commercial loan to a start up business in Westport, Connecticut. The loan proceeds will be used by the borrower for working capital purposes for the new small business and the loan was funded by one of WAC’s private investors. The loan is secured by a first mortgage on real property in Westport, Connecticut with an underlying LTV of approximately 12%.
In order to satisfy WAC’s exit strategy, the borrower is actively selling the property in Westport, Connecticut and will pay off WAC’s short term bridge loan in full upon the sale of the property. WAC approved this loan request on the same day that it received the request and proceeded very quickly to fund this new small business loan.
Share
Recent Posts
What Do You Need to Qualify for a Private Loan?
One of the most common questions I hear from first-time borrowers is, “What do I need to qualify for a private loan?” Although...
Worth Avenue Capital Launches Worth Avenue Capital Development
This New Division Expands Worth Avenue Capital’s Capabilities to Residential Acquisition and Development Opportunities in Palm Beach County PALM BEACH, FL — [September...
Finding the Right Private Lender
Private credit has become an increasingly valuable financing option for real estate investors who need faster, more flexible financing that traditional lenders can’t...