ReCap Secures $16.5 Million Loan For One Of Biggest Jewelry Wholesalers In NYC Diamond District

NEW YORK - Jan. 13, 2019 - PRLog -- A major jewelry wholesaler in the NYC Diamond District has been granted a $16.5M loan through Real Estate Capital of America (ReCAP). Commercial loans are notoriously difficult for pawnbrokers and jewelers to obtain because of the nature of their business. This client previously received a loan brokered by ReCap in 2013. "Lenders routinely do not lend to pawnbrokers or pawnshops due to that industry having a bad reputation or the fear of money laundering concern, Johnny Su, COO of ReCap explained at the time. "So, 99% of lenders will not lend to pawnbrokers and jewelry industry."

But with the prior relationship already established between the firm and client, in addition to ReCap's good standing within the Bukharian Jewish Community, the latest deal was met with success. Putting together difficult deals is something the firm prides itself in.

This time, ReCap is offering the client a bridge loan for a period of two years. In the meantime, the client will build a new office building. This loan was secured with the Wall Street Prime rate plus 0.5%.

Through its vast and strong connection with lenders and the willingness to take on challenging loan scenarios, ReCap has gained a strong reputation in the finance industry from major clientele. Their leadership is trusted for the commitment and attention to detail when navigating delicate assignments such as these. Brokering this deal adds another proud accomplishment to the firm's portfolio and the board is excited for their client's success.

ReCap is a prominent finance boutique assembled by distinguished experts. The professionals at ReCap assist their customers throughout the entire loan process. Their commitment to service and excellence keep customers satisfied and referring ReCap services to their colleagues. "We work hard to provide the best financing in complicated deals," said Johnny Su, ReCap COO. "We succeed where others fail."

Learn more at http://recapny.com/