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Wintrust Commercial Finance Funds $10MM Split-TRAC Lease for Cement Mixers

October 18, 2016, 07:10 AM

Wintrust Commercial Finance, through one of its key capital markets partners, recently closed $10.0MM in Split-TRAC leases for cement mixers with a leading producer of  ready-mix cement and aggregates. The proceeds of the financing were used to manage the partner’s exposure to the company and provide availability to finance the acquisition of new assets for the company’s distribution operations.

“This transaction highlights WCF’s ability to respond quickly to market needs” said Tom Forbes, Senior Vice President of Capital Markets for Wintrust. “Our syndication source was looking for certainty of execution within a short time frame.  We were able to turn a credit approval within eight business days of learning of the opportunity and were ready to fund shortly thereafter” Forbes added.

Since its inception in April of 2016, Wintrust has committed to more than $500 million in financings. WCF is an equipment-focused financing group, headquartered in Frisco, Texas, offering sophisticated loan and lease products to commercial companies in a variety of industries throughout the United States. WCF regularly invests in transactions in the $5 million to $30 million range with customers having B- to BB+ or comparable ratings.  WCF is a business unit of Wintrust Financial Corp.

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