22 Oct SBA 7A Loan Closed for CT Manufacturer
October 22, 2013
Worth Avenue Capital Closes $1,250,000 SBA 7A Loan for CT Business
Worth Avenue Capital, LLC is pleased to announce that it just closed a $1,250,000 SBA 7A loan for a Connecticut based manufacturer and distributor of food products. The loan proceeds were used to purchase a commercial building that is already occupied by one of the company’s divisions and the loan was funded by a commercial finance company with a national presence.
The company’s attempts to obtain a conventional bank loan to provide the financing for the purchase of this building proved to be unsuccessful. As a result of these unsuccessful efforts, the company retained WAC to assist them with their financing needs and WAC was able to quickly source their financing request to a well established non bank commercial lender. Subsequently; WAC’s efforts enabled its client to obtain the necessary financing to purchase the building and; for basically the same monthly expense; the company now owns the building that they occupy and they have eliminated their rental expense on that property.