In Q3/24, Loeb funded close to $10 million in machinery and equipment term loans in numerous industries. Loan highlights include:
- $3 million to an electrical contractor
- $2 million to a forestry company
- $1.7 million to a transportation company
- $1.3 million to a woodworking company
Other industries included construction, beverage, metalworking and plastics.
“In Q3 of 2024, the trend of banks tightening credit and refusing to lend continues,” Howard Newman, president of Loeb, said. “Loeb continues to keep the lending doors open, providing quick, covenant-free loans to our clients based solely on asset values and not on clients’ credit.”
