Loeb Funds Nearly $10mm in Term Loans in Q3 2024 to Help Companies That Don't Meet Bank Standards
Loeb provides quick, covenant-free M&E Term Loans for easy working capital extraction where banks can't deliver
CHICAGO, Oct. 16, 2024 /PRNewswire/ -- Loeb continues to support their clients in an environment where banks have cut off their lending spigots. In Q3 of 2024, Loeb funded close to $10mm in machinery and equipment term loans in numerous industries. With simple, fast working capital extraction from existing M&E, these companies received the cash infusions they needed.
What makes Loeb truly unique is their expertise in precise valuation of M&E, allowing the ability to swiftly originate loans that traditional lenders can't. The Loeb team continues to work hard to stand by its commitment to provide hassle-free financing with flexible terms and quick closings.
Loan Highlights:
- $3 Million to an Electrical Contractor
- $2 Million to a Forestry Company
- $1.7 Million to a Transportation Company
- $1.3 Million to a Woodworking Company
- Other industries included construction, beverage, metalworking, and plastics
"In Q3 of 2024, the trend of banks tightening credit and refusing to lend continues," said Loeb's President Howard Newman. "Loeb continues to keep the lending doors open, providing quick, covenant-free loans to our clients based solely on asset values and not on clients' credit."
About Loeb: Since 1880, Loeb has been helping manufacturers and financial institutions leverage their industrial assets through financing solutions and valuations to unlock top dollar from their existing M&E. Featuring funding in 4 weeks; no covenants; M&E value, not on credit quality; multiple financing options including term loans, equipment lines of credit, and leasebacks.
Visit us at loebequipment.com.
Press Release Contact:
Eric Schwartz
[email protected]
773-548-4131
SOURCE Loeb
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