Utica Equipment Finance completed three transactions totaling $5.15 million in the first half of March, including:
- A $1.25 million capital lease secured by a hyper-car and support vehicles to transport and deliver the vehicle. Utica provided the working capital needed for production inventory and to pay off short-term notes. The client for this transaction has been in business for more than 20 years.
- A $1.4 million capital lease secured by fabrication equipment. The client for this transaction is a single-source provider of production and measurement equipment in the oil and gas sector. Utica worked alongside accounts receivable and inventory-based lenders to provide the client with funds to refinance existing debt obligations that were previously in forbearance.
- A $2.5 million capital lease secured by food manufacturing equipment to a ramen noodle producer in North America. Utica reimbursed the client for its cash outlay of new equipment purchased in 2021. The client’s products are available in 6,000 stores across the United States. The client recently signed distribution agreements with a broker covering Canada, Europe and Asia.
_x000D_
_x000D_
_x000D_
