Worth Avenue Capital, LLC has closed a $225,000 commercial loan to a restaurant that is located in Connecticut. The loan proceeds were used by the restaurant to consolidate some existing debt, as well as provide working capital for the business and the loan was secured by a blanket mortgage on a few commercial properties that are owned by the principals of the restaurant. The loan was funded by one of WAC's private lenders.
WAC has successfully closed numerous loans in the restaurant industry, as well as many other commercial loans for other types of small businesses and real estate developers/investors.