Loeb Term Solutions Funds More Than $12MM in Term Loans in Q3/23

Loeb Term Solutions funded more than $12 million in machinery and equipment term loans in Q3/23, including $6 million to a metalworking company to expand its business, $3.6 million to a waste transportation company to invest in growth and $2.5 million to a foundry company to refinance an existing loan and extract working capital.

The metalworking client is a portfolio company of a private equity firm. The deal was refinanced to include additional equipment and to support expansion.

The waste transportation company is a green waste recycler that needed a bridge loan to take out an existing lender and extract working capital for growth.

The foundry client was established in 1845 and needed working capital and received maximum capital extraction alongside and accounts receivable lending partner.

"Q3 of 2023 saw growing demand for alternative, covenant-free funding that we are readily able to provide," Howard Newman, president of Loeb, said. "In this economic cycle, we've seen, firsthand, banks tightening their lending standards, making it more important than ever for alternative lenders like Loeb to stand ready to provide financing."