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Loeb Leverages $12MM+ in Equipment to Finance Seven New Clients

November 20, 2020, 07:10 AM
Related: Howard Newman, Loeb

Loeb announced its continued support to seven new clients. It will not only help them make it through these tough times, but also help them grow their businesses. Loeb will do this the way it always does -- by leveraging working capital from their machinery with equipment financing and lines of credit using their machinery as collateral. These winning solutions are all covenant-free for businesses in the following industries:

  • $5 million to a gear manufacturer
  • $4 million to a construction company in Canada
  • $1 million line of credit to a mining operation
  • $1 million to a chemical packager
  • $500,000 to transportation firm in the Midwest
  • $500,000 to an ethnic food company
  • $500,000 to a foundry in Canada

Loeb President Howard Newman commented on this landmark accomplishment, “Our team continues to demonstrate its flexibility and willingness to work with our clients as partners to solve their financial issues with no covenants.”

He added, “It continues to impress me how we can adapt to the marketplace and get our clients the money they need as quickly as we do. I give our team a ton of credit for their hard work.”

In conclusion, Newman spoke about the secret to Loeb’s success. “Loeb’s core competency is really understanding the equipment marketplace and it really helps with that whole ‘lifecycle management’ from buying, selling and renting individual machines when a company is growing ... to helping companies with their appraisals when they want to leverage that equipment ... helping them sell machinery if they’re replacing those assets ... if they’re struggling, helping them with financing ... and if they’re going out of business, it gives us the opportunity to help them liquidate those assets.”

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