Utica Leaseco and Utica Equipment Finance completed five transactions totaling more than $10 million during the second week of September.
Brief details of the transactions are:
- $2.250 million capital lease secured by machinery and equipment to a textile manufacturer located in North Carolina. Utica provided funding to payoff existing lenders and provide needed working capital.
- $675,000 capital lease secured by machinery and equipment to a Hemp Processing company located in Colorado. Utica provided the working capital needed for this U.S.-based company to continue expanding operations.
- $5.6 million lease secured by machinery and equipment to a technology company located in San Jose, CA. Utica provided funds to payoff OEM’s and provide needed working capital. This financing is the first $5.6 million of a total $13.2 million lease facility.
- $575,000 to current Utica customer operating within the agricultural sector. Within three days of their initial request, Utica helped unlock the value of its machinery and equipment with a capital lease, bringing its total funding to date more than $13 million.
- $900,000 capital lease secured by machinery and equipment to a fabrication company located in the Greater Philadelphia area. Utica was able to provide the needed working capital the company desired.
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