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

April 05, 2022, 07:41 AM
Filed Under: Marine

36th Street Capital 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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