Utica Leaseco completed two capital leases totaling $900,000 during the week of May 11, 2018.
Utica first provided a $500,000 lease secured by machinery and equipment to a Michigan-based farm, bringing the total funding for the client to $3 million. Utica was able to provide the needed financing within seven days of the initial request.
Utica then completed the funding of a $400,000 lease secured by heavy machinery for a California construction company. The financing will be used to by the company to continue operations.
Utica provided the financing based on collateral, not credit.
