Loeb Leverages Over $12M in Equipment to Finance 7 Seven New Clients' Businesses Run the Gamut from Mining to Gear Manufacturing, Transportation to an Ethnic Food Company

November 19, 2020

Source: Loeb Equipment

Loeb is pleased to announce its continued support to seven new clients. We will not only help them make it through these tough times, but also help them grow their businesses. We will do this the way we always do -- by leveraging working capital from their machinery with equipment financing and lines of credit using their machinery as collateral. These winning solutions are all covenant-free for businesses in the following industries:

• $5M to a gear manufacturer

• $4M to a construction company in Canada

• $1M line of credit to a mining operation

• $1M to a chemical packager

• $500k transportation firm in the Midwest

• $500k to an ethnic food Co and $500,000 to a foundry in Canada

Loeb President Howard Newman commented on this landmark accomplishment, “Our team continues to demonstrate its flexibility and willingness to work with our clients as partners to solve their financial issues with no covenants.” He added, “It continues to impress me how we can adapt to the marketplace and get our clients the money they need as quickly as we do. I give our team a ton of credit for their hard work.” In conclusion, Newman spoke about the secret to Loeb’s success, “Loeb’s core competency is really understanding the equipment marketplace and it really helps with that whole ‘lifecycle management’ from buying, selling and renting individual machines when a company is growing. . . to helping companies with their appraisals when they want to leverage that equipment . . . helping them sell machinery if they’re replacing those assets. . . if they’re struggling, helping them with financing. . . and if they’re going out of business, it gives us the opportunity to help them liquidate those assets.”

About Loeb

For five generations since 1880, Loeb has been a trusted provider of reliable equipment and related services that help manufacturing and financial companies leverage their industrial assets. Headquartered in Chicago, we maintain over 150,000 square feet of warehouse space stocked with quality equipment. Visit us at www.loebequipment.com.

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