Daily News: August 29, 2016

Utica Leaseco Provides $7MM to Construction Co.

Utica Leaseco acted as agent in a $7 million transaction with a large Maryland-based construction company during the week of August 22, 2016.

The company will receive the turnaround capital, which consists of a capital lease and an equipment-based revolving line of credit, from Utica Leaseco on an expedited basis.

In order to provide the funding, Utica Leaseco leveraged the value in the Maryland-based company’s heavy construction equipment.