Daily News: April 22, 2015

Utica Leaseco Funds $1MM in Two New Transactions


Utica Leaseco announced it closed and funded $1 million in two new transactions during the second week of April.

Transaction details as follows:

Utica Leaseco announced the completion of a new Capital Lease transaction in the amount of $700,000. Utica closed and funded the transaction for a landscape maintenance and contracting company located in the Princeton, NJ area. Utica was able to provide the needed working capital by unlocking the equity that existed in the company’s excavating, trucking, and landscape maintenance equipment. Utica relied on the company’s equipment as the sole collateral for the transaction.

Utica Leaseco also announced the completion of a Capital Lease transaction in the amount of $300,000. Utica closed and funded the transaction for a Hispanic food processor located near San Diego, CA Utica was able to provide the needed working capital by unlocking the equity that existed in the company’s food processing machinery, including stainless tanks, grinders, packaging, and support equipment. Utica worked closely with the company, its management team, and its current Factor 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.