Utica Leaseco announced it funded $1.0 million for new equipment for an oil field services company in western Pennsylvania. This brings fundings to this company to over $3.5 million in support of the its continued growth.

Utica was able to provide the needed capital by funding the acquisition of transportation equipment based solely on the equipment value. Utica noted it provided the financing based on the company’s collateral not its credit.

Utica Leaseco also announced the funding of $2.0 million of a $5.0 million loan transaction during the week of May 16, 2016. Utica, along with its partners, closed and funded the transaction for a business retailer headquartered in California.

Utica said, working with its partners, it was able to help provide the needed capital based solely on the value of the racking and material handling equipment purchased for a new distribution center. Utica provided this financing based on the company’s collateral not its credit.