18 Aug Closes $200,000 Commercial Loan for CT Manufacturing Company
August 18, 2014
WAC Closes $200,000 Commercial Loan for CT Manufacturing Company
Worth Avenue Capital, LLC is pleased to announce that it successfully closed a $200,000 commercial loan for a small manufacturing company in Connecticut. The loan proceeds were used by the company for working capital purposes and the loan was funded by a Connecticut based community bank.
Prior to engaging the services of WAC, the borrower and his CPA tried to obtain conventional bank financing on their own but were unsuccessful. Upon being retained, WAC was able to secure a loan commitment very quickly from the bank that closed the transaction. In addition to obtaining the financing in a rapid manner, WAC further assisted its client by helping to negotiate an interest rate of 4.75% for this long term loan ensuring that the company will enjoy the benefits of maintaining inexpensive debt capital on its balance sheet for an extended period.