Utica Leaseco completed three transactions totaling $3.1 million during the week of October 22, 2018.
A current Utica customer, operating within the agricultural sector needed funding quickly to purchase new equipment and expand their daily operations. Within seven days of their initial request, Utica provided the company with an $800,000 lease, bringing their total funding to date to over $8.2 million.
Utica also completed the funding of a $1.5 million capital lease secured by machinery and equipment for a transportation company located in Ohio. The financing was based on collateral, not credit.
Finally, Utica completed the funding of a $800,000 capital lease secured by laboratory equipment for a pharmaceutical company in California. The company needed working capital to continue expanding operations.
