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$3MM DECD Approval

Published: October 2, 2013

Pastore & Dailey’s transactional team successfully concluded a $3 million loan financing transaction on behalf of client NewOak Capital, a specialized financial advisory firm based in New York City that provides consulting, analysis, and technology services to global banks, insurance companies, asset owners, and regulators.  The financing was provided by the State of Connecticut Department of Economic and Community Development (DECD) in connection with NewOak’s $13 million relocation project which established its credit services division, NewOak Credit Services, now located in the Matrix Corporate Center in Danbury, Connecticut.  Under the terms of the loan, the company plans to create up to 50 jobs during its first year and up to 100 jobs within three years.