Utica Leaseco completed three transactions totaling $2.1 million during the week of March 5, 2018.
Utica provided an $800,000 capital lease secured by machinery and equipment to a logistics company located in Pennsylvania. The funding will be used to purchase new equipment and expand operations and brings the total funding for this customer to more than $4.2 million.
With the help of its industry partners, Utica also completed the funding of a $700,000 line of credit secured by the inventory of a container manufacturer serving the oil and gas and chemical industries in Texas. The financing will provide the working capital needed for the company to continue operations and brings the total funding for this customer to more than $3.7 million.
Finally, Utica also completed a $600,000 capital lease to a hospital located in Pennsylvania. The company will use the financing to continue operations.
Utica provided financing based on collateral, not credit.