Utica Leaseco completed two transactions totaling $750,000 during the last week of January 2019.
Utica first completed the funding of a $550,000 capital lease secured by machinery and equipment for a transportation company located in Texas. The company will use the funds to expand operations.
A current Utica customer, operating within the oil and gas sector, needed funding quickly to purchase new equipment and expand their daily operations. Within one week of their initial request, Utica provided a $200,000 capital lease, bringing their total funding to date to over $6.2 million.
Utica provided financing based on collateral, not credit.