Daily News: September 5, 2017

Utica Provides $1.5MM to Oilfield Services Provider

Utica Leaseco completed the funding of a $1.5 million capital lease on existing equipment for an oil field services provider in Texas. Utica provided funding to finance working capital for new contracts in this industry which in the midst of a turn-around. Utica is proud to provide needed growth capital for this American company.

Utica was able to provide the financing based solely on the collateral value of the equipment. Utica was proud to provide this financing based on the company’s collateral not its credit.