CG Commercial Finance completed an equipment sale-leaseback transaction in the amount of $4.3 million, consisting of Yellow Iron, Hydraulic Hammers, Work Trucks and Tractors for New-Com.

New-Com is an infrastructure construction entity in the Southwestern U.S. New-Com has been focused on heavy civil construction for more than 55 years building public sector projects such as waste treatment facilities; highway, bridge and airport concrete paving; large diameter sewer, water, storm drain and jet fuel piping systems; alternative energy production plants and numerous municipal projects throughout the Western U.S.

Due to a shift in commercial bank underwriting, New-Com’s local bank decided to end its decade-long lending relationship, and required a payoff even though New-Com’s operating results were strong and trending higher. New-Com decided the most expedient and efficient way to meet the bank’s payoff request was to complete a sale-leaseback transaction. After working with other finance providers, who, after several months, failed to deliver the required funding, New-Com moved its business to CG Commercial Finance who finalized the transaction in time for New-Com to make the payoff to the bank.