Utica Leaseco completed two transactions totaling $800,000 during the last week of December 2018.
Utica first completed the funding of a $150,000 capital lease secured by machinery and equipment to an oil field services company located in Texas. Utica provided the working capital for this company to expand operations on an expedited basis.
In the second transaction, a current Utica customer, operating within the agricultural sector, needed funding quickly to purchase new equipment and expand daily operations. Within three days of the initial request, Utica provided the company with a $650,000 capital lease, bringing its total funding to date to over $10 million.
Utica provided financing based on collateral, not credit.
