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Connecticut
Posted: September 18, 2015
Worth Avenue Capital closes $50,000 bridge loan
Clinton, CT Worth Avenue Capital, LLC (WAC) closed a $50,000 bridge loan to a real estate investor. The loan proceeds were used to complete the renovations on an investment property and the loan was funded by one of WAC’s private lenders.
While in the midst of completing the renovations, the borrower experienced a cash flow shortfall. The new $50,000 bridge loan supplies the borrower with the necessary capital to complete the construction on the project in a timely manner so that they can list the property for sale to secure a buyer. The borrower pledged another piece of real estate that they own in Guilford as collateral for this loan.
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Connecticut
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