Utica Leaseco completed a new capital lease transaction in the amount of $2.8 million during the week of June 15, 2015. The transaction assisted two companies with proud histories to exit a difficult relationship with their bank and helped provide needed working capital for growing their business.

Utica closed and funded the transaction for these metal fabrication companies headquartered near Dayton, OH, and Northern Indiana. The companies specialize in fabricating high precision metal
parts.

Utica was able to provide the needed capital by unlocking the equity that existed in the company’s stamping, cutting, welding and machining equipment, and worked closely with the company, its management and working capital lender and was able to close the needed funding on an expedited basis. Utica relied on the company’s equipment as the sole collateral for the transaction.