Loeb Term Solutions Participates in the Funding of Over 40 Million Dollars in Equipment Financing
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.
Loeb Term Solutions is an affiliate of Loeb offering equipment term loans to the industrial marketplace. For more information on Loeb Term Solutions and its recently funded deals, visit: www.loebtermsolutions.com.
For five generations since 1880, Loeb has been a trusted provider of reliable equipment and related services that help manufacturers and financial institutions leverage their industrial assets by managing the equipment lifecycle. Headquartered in Chicago with a 150,000 square foot facility, Loeb provides: equipment sales, purchases, rentals, leasing & liquidations, certified market appraisals from Loeb Appraisal, auction services & asset disposition from Loeb Winternitz Industrial Auctioneers, and equipment financing from Loeb Term Solutions. Loeb and all of its divisions are experts in providing equipment solutions to the: food, pharmaceutical, cosmetics, chemical, metalworking, woodworking, plastics, and printing industries. For more information on Loeb or any of its business units, please visit: www.loebequipment.com.