New Haven, CT Worth Avenue Capital, LLC (WAC) closed a $130,000 commercial loan to a small market/restaurant in New Haven County, Conn. The borrower is using the loan proceeds for working capital purposes and the loan is secured by a first mortgage on a commercial building that is situated in a prime historic downtown location on the Connecticut shoreline. The LTV on this transaction is 15%.
This small business has been a multiple repeat borrower for WAC as they continue to access bridge financing from WAC for their short term working capital needs. The borrower will pay off the loan through general cash flow and the loan was funded by WAC in less than one week.
WAC specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients.
WAC maintains offices in both Guilford and Greenwich, Connecticut as well as Palm Beach, Florida.