Wintrust Commercial Finance (WCF), a division of Wintrust Asset Finance, announced the funding of a $20 million term loan for a premier crane and rigging company headquartered in Northern California. The funds were used to refinance crane and rigging assets purchased within the last year.
The crane and rigging company owns and maintains one of the largest and most diverse crane rental fleets in the U.S. and provides crane rental, rigging and heavy transportation project services from coast to coast. The deal was led by Robert Harris, vice president of direct originations, and Brian Fyffe, assistant vice president of direct originations.
“This was a large transaction comprised of 107 different assets,” Harris said. “Completing a funding of this magnitude with a premier name in the crane industry in less than 30 days is a testament to the teamwork, speed, and efficiency of everyone involved.”
The newly formed direct origination team has delivered more than $250 million in funded transactions and approved lines of credit for end user customers in the last 24 months alone.
“Once again, WCF was able to make a difference by quickly responding to the needs of a client,” said Joseph Thompson, chief operating officer of WCF. “Achieving these results clearly demonstrate WCF’s newly formed direct origination team’s ability to execute from proposal to funding. Robert has done a great job of developing our western region office and building a good core team. I am very proud of the development of the direct team’s efforts across WCF. Congratulations to both Brian and Robert for their work on this transaction.”
“WCF delivered a turnkey and competitive financing solution thanks to our strong working relationship with this customer and the leadership at both companies,” said Fyffe. “We are pleased to have been afforded this opportunity to serve the customer’s needs and demonstrate WCF’s ability to execute.”
Since its inception in 2015, WCF has provided more than $1.2 billion in financing for its customers and strategic partnerships.
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