Daily News: December 3, 2018

Utica Provides $3MM in Financing to Two Clients

Utica Leaseco completed two transactions totaling $3 million during the last week of November 2018.

Utica first completed the funding of a $2 million transaction on an expedited basis and secured by certain tangible assets for a technology company located in the Bay Area of California. The company plans to use the funds for working capital to expand operations.

Utica also provided a $1 million capital lease to a current customer operating within the agricultural sector within five days of the client’s initial request. The company needed funding quickly to purchase new equipment and expand their daily operations. This brings the total funding to date for this client to over $9.5 million.

Utica provides financing based on collateral, not credit.