In the past year, OnDeck has grown more than 150 percent and loaned over $1 billion to small businesses. I spoke with Gellert about why she left corporate America to join the startup, and what shes looking for in a company applying for a loan.
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WAC Closes Commercial Loan in Nantucket
The company was experiencing difficulty in obtaining either a conventional bank loan or equipment financing and they needed to raise cash quickly so that they could purchase some new equipment for their business at an upcoming auction. Since time was of the essence, WAC used its alternative lending product and arranged the financing with one of its private lenders and closed the transaction in approximately ten days. The company now has the necessary capital to purchase much needed equipment for their business operations. The loan is secured by the principal of the company’s investment property on Nantucket as well as the equipment that the company is purchasing. WAC specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients. You can learn more about WAC by taking a look at their website and you tube video at http://www.weclosecommercialloans.com and by contacting WAC’s principal, Michael M. Ciaburri at firstname.lastname@example.org or (203)605-4082.
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