36th Street Closes $8MM Financing for Energy Services Company
MAR 29, 2017 - 6:55 am
36th Street Capital funded an $8 million lease financing of mission critical equipment for a provider of electrical infrastructure and automation services to the oil and gas sector.
Mark Horan, chief growth officer at 36th Street Capital, said, “Due to challenges facing the energy industry, the customer was having difficulty finding sources of capital. Working with our origination partner, we focused on understanding how industry changes impacted the lessee’s operations. As a result, we were able to structure a facility that met the customer’s needs and helped the originator close on a difficult transaction. This deal is an example of exactly what 36th Street Capital hopes to achieve by providing liquidity to help lessors grow.”
36th Street Capital is an alternative funding source supporting the equipment finance industry. The firm specializes in transactions with middle market companies who find it difficult to obtain credit from traditional industry sources.
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