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Utica Equipment Finance Completes Three Transactions Totaling $10.9MM in December

January 05, 2024, 07:39 AM
Filed Under: Equipment Finance News

Utica Equipment Finance announced the completion of three transactions totaling $10,900,000 in December. 

  • $2,350,000 Capital Lease secured by multi-passenger and delivery vans. The company operates out of 7 major US cities and engages in corporate and government long term rental contracts. With Utica’s funding they were able to refinance existing vehicles. This is the second transaction that Utica has completed with this customer.

  • $1,850,000 Capital Lease secured by manufacturing and fabrication equipment to a prominent manufacturing and fabrication company based in Louisiana. Specializing in Oilfield Fabrication, Shipbuilding, and Repair of Steel & Aluminum Vessels, the company has strategically utilized this funding to secure working capital by leveraging its unencumbered equipment.

  • $6,700,000 Capital Lease to two coal mines in West Virginia secured by trucks, dozers, excavators, and wheel loaders. The mines comprise both a metallurgical surface mine, featuring a coal preparation plant and a CSX rail loading facility, and a metallurgical and thermal coal surface mine, complete with a coal preparation plant. Utica's financing enabled the company to successfully refinance existing assets, clear outstanding personal property taxes, and secure additional working capital.

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.

For more equipment finance and equipment leasing industry news, visit Equipment Finance Advisor.

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