Utica Leaseco completed two transactions totaling $700,000 during the week of November 11, 2018.
Utica first completed the funding of a $400,000 capital lease secured by machinery and equipment for an oil field services company located in Texas. Utica provided the needed financing on an expedited basis. The company plans on using the funding for working capital and to expand operations.
Utica also completed a $300,000 capital lease for a current customer, operating within the agricultural sector, who needed funding quickly to purchase new equipment and expand their daily operations. Utica closed the financing within five days of the initial request, bringing the client’s total funding to date to over $8.5 million.
Utica provided financing based on collateral, not credit.
