Chicago-based lender, Loeb Term Solutions is pleased to announce the graduation of a Midwest Gear Manufacturer after having provided an equipment term loan back in early 2017 to help with the acquisition of the company. The company, a manufacturer of gears used in multiple industries including oil and gas and aerospace, sought equipment financing to leverage working capital.
“This is the type of deal traditional bankers could not figure out and for that, I’m grateful for our relationship with Loeb Term Solutions,” stated Robert Kattula. “We have been able to successfully complete the turnaround and things are running very smoothly.”
“Working with Bob and his team has been great from day one,” stated Andy King, Vice President Originations for Loeb. “They clearly identified an undervalued asset, articulated their plan to Loeb, and we were able to use the existing equipment to facilitate the acquisition.”
After only eighteen months working with LTS, the company has completed the turnaround, is creating enormous wealth for its equity holders, and is now able to qualify for traditional financing with a commercial bank.
For the last Twenty years, Loeb Term Solutions offers specialty financing for the industrial marketplace with funding amounts ranging from $500,000 to $20,000,000.
Loeb Term Solutions is an affiliate of Loeb, a fifth-generation provider of reliable equipment and related services to the industrial marketplace since 1880. Learn more about equipment term loans.
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