Daily News: December 4, 2017

Utica Closes Two Capital Leases for $1.3MM

Utica Leaseco completed two transactions totaling $1.3 million.

Utica completed the funding of a $300,000 capital lease secured by machinery and equipment to a water pipeline construction company located in Ohio and Pennsylvania. This brings the total funding for this customer to more than $800,000.

Utica also funded a $1 million capital lease to a West Virginia-based surface mining company. The financing will be used to purchase equipment and begin new operations.

Utica provided financing based on collateral, not credit.