Utica Leaseco and Utica Equipment Finance completed five transactions totaling more than $10 million during the week of September 9, 2019.
Those transactions included
- A $2.25 million capital lease secured by machinery and equipment for a textile manufacturer located in North Carolina to payoff existing lenders and provide needed working capital
- A $675,000 capital lease secured by machinery and equipment for a hemp processing company located in Colorado to continue expanding operations
- A $5.6 million capital lease secured by machinery and equipment to a technology company located in San Jose, CA to payoff OEM’s and provide needed working capital. This financing is the first $5.6 million of a total $13.2 million lease facility.
- $575,000 within three days for a current Utica customer operating within the agricultural sector to help it unlock the value of its machinery and equipment with a capital lease, bringing its total funding to date to over $13 million. This was the 25th schedule for this customer.
- A $900,000 capital lease secured by machinery and equipment for a fabrication company located in the Greater Philadelphia area to use for working capital
Utica Leaseco provided financing based on collateral, not credit.