Utica Leasco closed three transactions totaling more than $12.5 million.
Brief details of the transactions are:
- $12 million capital lease secured by machinery and equipment to a multi-location oil field service provider based in Texas. Utica worked extensively with the restructuring firm to payoff existing lenders Utica also worked closely with both the new A/R Lender and the sub-debt provider to achieve a global solution. Utica is proud to provide financing based on collateral, not credit.
- $200,000 to a current Utica customer, secured by cargo vans to a transport company located in Southern California. Utica provided the working capital for this company to expand and grow operations.
- $300,000 to a current Utica customer operating within the oilfield industry. Within three days of the initial request, Utica helped it unlock the value of its machinery and equipment with a capital lease, bringing its total funding to date to more than $8 million. This was the eighth schedule for this customer.
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