23 Mar WAC Closes Loan for Florida Based Business
March 23, 2016
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $100,000 Line of Credit for a Florida based small business that specializes in raising capital for libraries through a miniature golf platform. The loan proceeds will be used for short term working capital purposes and the loan is secured by a mortgage on investment property located in Dartmouth, Massachusetts. The loan was funded by one of WAC’s private investors.
As a result of this influx of fresh debt capital, the borrower will now be able to grow its revenue and footprint as it can now satisfy the increased demand for its services that it has experienced during the last several months. This company should be able to obtain a conventional bank loan within the year that will enable it to pay off WAC’s bridge loan.