Tetra Financial Group has funded a $1.5 million transaction for a large Kentucky-based coal mining company in the form of a 36-month operating lease.
The funds were for two used pieces of CAT equipment the company had been renting for several months, which are vital to the company’s operations. The company has recently entered into new contracts that depend on the use of these trucks for production at the mining locations.
“This was a difficult transaction due to the used nature of the collateral and surrounding credit challenges. We liked this company and so we had to get creative with the structure and work closely with the vendor to find a way to get the deal done,” stated Greg Emery, senior vice president at Tetra. “We look forward additional business and a long standing relationship with this customer.”
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