A prominent Connecticut developer is the latest recipient of a commercial loan generated by Worth Avenue Capital LLC, one of the state's most proactive lending resources. In a relentlessly soft real estate environment, Worth Avenue Capital has yet closed another financing package to aid a local developer. The $125,000 loan was secured by real property in New England, with the funds earmarked for working capital purposes. The loan was financed by one of Worth Avenue Capital's private lenders.
Michael Ciaburri, principal owner and managing partner of Worth Avenue Capital, founded the firm three years ago with the intent to meet the various financing needs of small to midsize businesses.
"We're a financial boutique," Ciaburri said, "with the ability to draw from many resources in arranging debt financing for our clients. This current loan symbolizes our strength in challenging the difficult real estate market and succeeding with a seamless, fast transaction."
Ciaburri said, "We offer a wide range of financing possibilities including SBA loans, equipment loans, commercial mortgages, and private loans." Worth Avenue Capital also has extensive experience in servicing bank workouts for small businesses experiencing difficulty dealing with their bank, finance company or any similar commercial lender. "We take on the tough ones," Ciaburri concluded. "Business people need help in these tough times, and that's precisely why we're here."
Ciaburri is a former president and CEO of a Connecticut community bank.