Utica Leaseco completed two transactions totaling $5.5 million during the week of June 25th, 2018.
Utica first funded a $5 million capital lease secured by real estate as well as machinery and equipment to a multi-location oil field service provider located in Texas. Utica worked extensively with a restructuring firm to help the client pay off existing lenders and provide working capital. Utica also worked closely with both the new A/R lender and the sub-debt provider to achieve a global solution.
Utica funded a $500,000 lease secured by machinery and equipment for a Michigan-based farm. Utica was able to provide the needed financing within 3 days of the initial request. This brings the total funding for this customer to over $5 million.