Enservco retired its $13.8 million senior revolving credit facility with East West Bank via a refinancing transaction that includes a $10 million receivables factoring line from LSQ, a $6.22 million master equipment lease from Utica Leaseco and the issue of a $1.2 million convertible subordinated note to Cross River Partners.
Great Elm Capital launched Great Elm Utica, a joint venture between Great Elm Capital and Utica Leaseco, to co-invest in proprietary equipment financing transactions sourced by Utica Leaseco.
Utica Leaseco recently completed two transactions totaling $1 million, including $500,000 secured by vehicles for a ride sharing company and $500,000 secured by machinery and equipment to a microbrewery in Florida.
Utica Leaseco recently completed two transactions totaling $2.2 million, including $1.5 million in financing secured by real estate and equipment to a cannabis producer in Michigan.
Utica Equipment Finance completed the funding of a capital lease secured by machinery and equipment to a manufacturing company located in the Midwest and Utica Leaseco completed the funding of a $400,000 capital lease secured by machinery and equipment to an existing customer in Texas.
Utica Leaseco promoted Renate E. LaCroix to president. LaCroix is a licensed attorney and has been with Utica Leaseco for more than 10 years.
Utica Leaseco completed a $2.25 million refinance transaction secured by machinery and equipment to an automotive company located in Missouri.