Utica Leaseco completed a $1.1 million capital lease transaction during the second week of March 2016. Utica closed and funded the transaction for a CNC ordinance manufacturing company that is headquartered in the Cape Canaveral, FL area.

This transaction brings the cumulative funding that Utica Leaseco has provided for this customer to $1.7 million.

Utica was able to provide needed working capital by unlocking the equity that existed in the company’s existing and newly purchased CNC manufacturing equipment. Utica worked closely with the company and its management team, and was able to close the needed funding on an expedited basis. Utica provided this financing based on the company’s collateral not their credit.