18 Oct Private Loan Obtained for Retail Distributor in Orange, Connecticut
October 18, 2011
Worth Avenue Capital, LLC of Guilford, Connecticut recently closed a $100,000 line of credit for a retail distributor of lawn and patio furniture in Orange, Connecticut. The loan proceeds will be used for working capital purposes by the business.
Despite the fact that this business has been a successful enterprise for over 50 years, it had difficulty obtaining a new credit facility from its bank as a result of the more stringent credit standards that all banks are currently utilizing to underwrite their commercial loans. The business reached out to Worth Avenue Capital who was able to negotiate a new working capital line of credit with this business’ existing bank who is a large super regional financial institution.
In addition to maintaining a multitude of both bank and non-bank sources, as well as maintaining a pool of private capital, Worth Avenue Capital is well connected with many of the local banks and knows the management teams and decision makers of the majority of these institutions. These solid contacts enable Worth Avenue Capital to provide “value-added” benefits to its clients.
Please do not hesitate to call Worth Avenue Capital’s Principal, Michael Ciaburri, if your small business is in search of capital for either growth opportunities or debt restructurings. In addition, Worth Avenue Capital specializes in performing bank workouts for those same small businesses.