36th Street Closes $8MM Financing for Global Rideshare Co
MAR 2, 2020 - 6:35 am
36th Street Capital recently funded an $8 million equipment financing for a technology company that provides ridesharing, meal preparation and delivery services to end-users worldwide.
“This transaction required us to partner with the captive financing arm of a major technology firm to finance essential use equipment for this publicly traded company,” said Mark Horan, Chief Growth Officer at 36th Street. “We’re very excited to bring this credit into our portfolio. Based on the collateral, business model and company’s strong customer base, we were able to get comfortable with the company’s path to profitability. We’re pleased we could structure a transaction that provided additional liquidity for the company and achieved a successful outcome for our origination partner.”
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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