Utica Leaseco announced the completion of two transactions totaling $2.2 million during the week of July 12-16.

Utica Leaseco and its cannabis industry partner completed a financing of $1,500,000 secured by real estate and equipment to a cannabis producer in Michigan. Utica and its partners are pleased to be able to provide financing to the cannabis Industry.

In addition, Utica completed a $700,000 refinance secured by machinery and equipment to a machining and fabrication company located in Illinois and Tennessee. By utilizing the equity in two facilities, Utica was able to provide working capital to grow operations and lower the customer’s monthly obligations. The company was grateful to Utica for providing this refinance during these currently challenging times.

Utica provides financing based on collateral, not credit.