Utica Leaseco funded a $500,000 DIP capital lease on transportation equipment for a logistics company in New Jersey.

Utica was able to refinance a commercial bank and provide DIP financing on an expedited basis. Utica provided the needed capital by unlocking the equity in the trucks based solely on the equipment value and looks forward to being part of a successful plan of reorganization.

Utica provided this financing based on the company’s collateral not its credit.