Worth Avenue Capital, LLC negotiates Forbearance Agreement

Guilford, CT Worth Avenue Capital, LLC (WAC) negotiated a Forbearance Agreement on behalf of one of its small business clients. WAC’s client is a Connecticut-based distributor of power equipment and recreational vehicles that has been in business for approximately thirty years. The company’s commercial mortgage on its headquarters, which is held by a national bank, recently matured. Despite the fact that the client never missed a payment with this bank during the 10-year term of the loan, the bank called the loan demanding full repayment from the borrower.

WAC was retained by the client to negotiate a Forbearance Agreement with the bank so that the company, with less pressure, can seek alternative financing with another lender within the next year to pay off this very large bank.