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Utica Leaseco Completes Three Deals Totaling $12.5.MM+

March 02, 2020, 07:16 AM

Utica Leaseco, LLC announced the completion of three transactions totaling more than $12,500,000 during the week of Feb. 24-28.

  • $12,000,000 capital lease secured by machinery and equipment to a multi-location oil field service provider located in Texas. Utica worked extensively with the restructuring firm to payoff existing lenders and provide needed working capital to this important American company.  The customer expressed great gratitude for Utica’s in-house counsel’s dedication in navigating through the complexities of the deal. Utica also worked closely with both the new A/R Lender and the sub-debt provider to achieve a global solution.
  • $200,000 to a current Utica customer, secured by cargo vans to a transport company located in Southern California. Utica provided the working capital for this company to expand and grow operations.
  • $300,000 to a current Utica customer operating within the Oilfield Industry. Within three days of their initial request, Utica helped them unlock the value of their machinery and equipment with a capital lease, bringing their total funding to date to over $8,000,000. This was the eighth schedule for this customer.

Utica Leaseco provides financing based on collateral, not credit.

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