Daily News: December 17, 2014

US Capital Provides Chellino Crane Bridge Loan

US Capital Partners has provided a $500,000 bridge loan for Joliet, IL-based Chellino Crane. Currently at an inflection point in its growth, Chellino Crane has a strong pipeline of new projects and opportunities. The bridge financing provided by US Capital Partners will be used to acquire additional equipment to meet the needs of customers and execute on these opportunities.

“We are delighted to have provided a $500,000 term loan for this Illinois-based crane rental and operating firm,” said Jeffrey Sweeney, CEO and managing director at US Capital Partners. “US Capital Partners has a strong track-record in providing best-in-class financing for small to lower middle market businesses across the United States, with a special focus on speed, structure, and efficiency of execution. We were able to provide this bridge financing for Chellino Crane swiftly, so that the business could purchase additional equipment as quickly as possible to execute on new contracts.”

Chellino Crane is a crane rental and operating business that services the oil refinery, chemical plant, power plant and wind farm industries.