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36th Street Closes $10MM Financing for Marine Transportation Company

April 05, 2022, 07:20 AM
Filed Under: Marine

36th Street Capital announced it recently funded a $10 million equipment financing of barges and marine equipment for a marine transportation equipment company.

“We’re very excited to get this deal closed in the first quarter,” said Mark Horan, Chief Growth Officer. “Our originations partner, a large captive finance company, was looking for a capital partner to help manage their exposure. The ‘storied credit’ profile of the obligor was not a fit for traditional financing partners. As an independent provider of alternative capital, we were able to step-in and fill the void.”

36th Street Capital is an alternative funding source supporting the equipment finance industry. The firm specializes in transactions with middle-market companies who find it difficult to obtain credit from traditional industry sources.

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