With its second commercial loan closing in just one week, Worth Avenue Capital has finalized yet another loan transaction, this time for $140,000.
Michael Ciaburri, principal owner and managing partner of Worth Avenue Capital, arranged the financing for a Connecticut entrepreneur, and the loan closed in less than a week on real estate listed below market value in a distressed sale.
"It was an excellent investment for our client," Ciaburri said, "and we were able to achieve the financing and close the loan quickly."
Worth Avenue has access to a network of private and commercial lenders, and utilized private capital for this specific loan.
Ciaburri said, "We can quickly tailor the need to the best possible lending source. And we can accomplish it faster due to our extensive financial contacts and our ability to cut complicated red tape and eliminate lengthy `loan holding' patterns and bureaucracy."