Utica Leaseco Provides $2.74MM in Recent Transactions

Utica Leaseco and Utica Equipment Finance completed three transactions totaling $2.74 million between Nov. 15 and Nov. 19, including:

• A $1.3 million capital lease secured by machinery and equipment to a multi-location coal mining company. Utica provided working capital to grow operations and lower the customer’s monthly obligations.

• $240,000 to a current Utica Leaseco 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 Teslas with a $240,000 lease, bringing the client’s total funding to date to more than $840,000. This was the third schedule for this customer.

• A $1.2 million capital lease secured by machinery and equipment to a food and beverage company located in Texas. Utica provided the funds to refinance existing debt and to provide working capital.