Loeb Term Solutions provided $10 million in covenant-free financing for nine clients over the last two months, including $3.5 million for an earth moving construction company.

Loeb Term Solutions also provided:

  • $2 million to a steel producer
  • $2 million to a transportation company
  • $1.1 million to a protein producer
  • $1 million to a welding shop
  • $1 million to a material handling rental company
  • $500,000 to an underground utility contractor
  • $500,000 to a truck fabricator
  • $500,000 to a dessert manufacturer

“It’s really a wonderful relationship and partnership we form with each of our wide-ranging clients,” Howard Newman, president of Loeb Term Solutions, said. “Loeb’s core competency is really understanding the equipment marketplace and it really helps with that whole ‘lifecycle management’ of their machinery assets.”

To help facilitate these solutions, Loeb recently hired Rob Harjung as a business development officer for the Loeb Term Solutions management team.

“Rob brings a welcome dimension to what we can do here at Loeb since he has excellent experience across all aspects of our business — machinery and equipment, alternative lending and human capital management,” Newman said.

Loeb is a provider of equipment and related services that help manufacturing and financial companies leverage their industrial assets.