Worth Avenue Capital, LLC (WAC) closed an $85,000 commercial loan for a liquor store in Fairfield County. The loan proceeds were used by the business for working capital purposes and the loan was funded by one of WAC's private lenders. The principals of the liquor store also own the underlying real estate where their store is located and they pledged that asset as collateral for the loan.
The loan to value on this loan is about 33%.
WAC was able to close this transaction within two weeks from the date of the actual loan request.
WAC specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients.