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News:
Owners Developers & Managers
Posted: April 15, 2016
Worth Avenue Capital closes $100,000 line of credit for small business
Dartmouth, MA Worth Avenue Capital, LLC (WAC) closed a $100,000 line of credit for a FL-based small business that specializes in raising capital for libraries through a miniature golf platform. The loan proceeds will be used for short-term working capital purposes and the loan is secured by a mortgage on investment property. The loan was funded by one of WAC’s private investors.
As a result of this influx of fresh debt capital, the borrower will now be able to grow its revenue and footprint as it can now satisfy the increased demand for its services that it has experienced during the last several months. This company should be able to obtain a conventional bank loan within the year that will enable it to pay off WAC’s bridge loan.
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