FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Utica Equipment Finance Completes Six Transactions Totaling $11.78MM

December 15, 2022, 07:44 AM
Filed Under: Equipment Finance News

Utica Equipment Finance announce the completion of six transactions totaling $11.78 million in the month of November:

  • $7.5 million refinance secured by machinery and equipment to a technology company located in California. By consolidating two individual schedules, Utica was able to lower monthly obligations while providing the extra working capital to grow operations. The customer was grateful for Utica’s ability to provide the needed refinancing on an expedited basis.
  • $2 million Capital Lease to a current Utica customer secured by audio, visual and lighting equipment. Utica was able to provide financing to grow their production equipment inventory. This was the second schedule for this customer, bringing their total funding to date to over $10 million.
  • $800,000 Capital Lease secured by food processing equipment. Utica’s funding was used to reimburse the company for their capital expenditures. With these new machines, the company can provide high-pressure processing and tolling services to Southeast Texas and Louisiana.
  • $550,000 Capital Lease secured by 20 titled vehicles for a solar panel installation and roofing services company located in Chino, CA. Utica was able to provide capital needed to expand the vehicle fleet to keep up with customer demand.
  • $475,000 to a current Utica customer, operating within the ride sharing sector. The customer needed funding quickly to purchase new electric vehicles and expand its daily operations. Within seven days of the initial request, Utica financed the purchase of eight Teslas with a $475,000 lease, bringing its total funding to date to over $1.75 million. This was the 10th schedule for this customer.
  • $455,000 Capital Lease secured by yellow iron to a construction company developing a zero-waste community in California. Utica was able to provide the capital to purchase additional yellow iron as their project continues to ramp up. This was the second schedule for this customer, bringing its total funding to date to over $2 million.

Utica Equipment Finance provides companies in a wide array of industries with collateral and credit-based equipment financing products ranging from $1,000,000 to $50,000,000.


Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.