Loeb Term Solutions recently participated in funding over 40 million dollars of industrial assets with a term loan providing working capital to a Southern heavy civil construction company.
Headquartered in Texas, the client specializes in the building and reconstruction of transportation and water infrastructure projects. The working capital will be used by the client to restructure debt and includes a collateral pool over more than 2,300 pieces of various industrial construction equipment including cranes, foundation drilling rigs, concrete paving plants, excavators, graders, compactors, loaders, dozers, tele-handlers, backhoes, tractors, trailers, pickup trucks and heaters.
Loeb Term Solutions worked with a team of lenders and provided $5,000,000 toward the final funding amount.
“Working with other lenders to provide financing to a facility this large is something Loeb is doing more and more of,” stated Jim Newman, Loeb Term Solutions’ Managing Partner. “Whether we have brought other lenders into large fundings that we have originated or participated with lenders in a different capacity, it’s always a pleasure to work with partners for the benefit of the clients’ unique financial needs.”
Since 2010, Loeb Term Solutions has provided funding for industrial machinery within the food, pharmaceutical, chemical, cosmetic, metalworking, plastic, woodworking and other industries. The company’s asset-based lending division offers specialty financing for the industrial marketplace with funding amounts ranging from $300,000 to $20,000,000.