Utica Leaseco completed three transactions totaling $1.4 million during the week of April 16th, 2018.
It provided a $300,000 capital lease secured by machinery and equipment to a farm located in Michigan, bringing the total funding for this customer to more than $2 million. The financing will be used to purchase equipment and expand operations.
A transportation company located in Pennsylvania received a $850,000 capital lease secured by machinery and equipment, bringing the total funding for this customer to more than $4.5 million. Utica provided the needed financing within seven days of the initial request.
Finally, Utica provided a $250,000 capital lease secured by machinery and equipment to a Texas-based plastics manufacturer, bringing the total funding for the company to more than $3.25 million.
Utica provided financing based on collateral, not credit.
