Utica Leaseco completed two transactions totaling $1.5 million during the week of May 13-17, 2019.
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Utica first completed the funding of a $600,000 capital lease secured by machinery and equipment to a hemp testing company with multiple locations in California and Hawaii.
The financing will be used for working capital to expand and grow operations.
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A current Utica Leaseco customer, operating within the electric car manufacturing industry, needed working capital to expand their daily operations.
Utica worked closely with the management team and were able to unlock the value of their machinery and equipment with a $900,000 capital lease, bringing their total funding to date to over $2.65 million.
