Loeb Term Solutions Success Story: Graduation of a Midwest Gear Manufacturer to Traditional Lending

Loeb Term Solutions Announces the Graduation to a Traditional Commercial Bank Loan of a Midwest Gear Manufacturer

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. For more information on equipment term loans from Loeb Term Solutions visit www.loebtermsolutions.com.

LTS Assists 3 More Clients Grow Their Businesses

Loeb Term Solutions is pleased to finance another $10 Million Dollars' worth of equipment while helping three industrial clients in the freight, energy, and contract packaging industries leverage working capital from their equipment!

$6.4 Million to a Midwest Specialty Freight & Logistics Company	$3.2 Million to a South Central Oil & Gas Services Company	$400,000 to a Southwest Contract Packaging Facility

Currently working with clients who have financing needs? Contact Andy King today at (773) 496-5739 / andyk@loebtermsolutions.com.

We are always pleased to pay referrals at closing! We finance all types of businesses because we know asset values! How can we help you provide the maximum funding amounts to your clients?? 

Learn More About Loeb Term Solutions ›

LTS is Helping Chicago's Junior Hockey Teams have a Better Experience

The teams are skating a lot smoother over at Johnny's Ice House thanks to their new Zamboni from Loeb Term Solutions. In addition to Loeb being a sponsor of their Dasher Board program, they also stepped in when the ice rink needed to replace their Zamboni.

"Johnny's operates two great facilities in Chicago and is home to many youth teams so we were eager to step in and help the kids out," stated Andy King, Executive Vice President, Originations for Loeb Term Solutions. "We look forward to seeing the teams enjoying the fresh ice."

Loeb has a long history of supporting youth organizations with past contributions to Make-a-Wish, Big Brothers Big Sisters, Bookwallah, and The Children's Heart Association.

Currently working with clients who have financing needs? Contact Andy King today at (773) 496-5739 / andyk@loebtermsolutions.com.

We finance all types of businesses because we know asset values! How can we help you provide the maximum funding amounts to your clients??

Learn More About Loeb Term Solutions ›

Loeb Welcomes Andy King to the Team as Executive Vice President, Originations

Loeb is pleased to announce the addition of Andy King to the team as the Executive Vice President, Originations. He joins the organization focusing on expanding the company's equipment-based lending portfolio, as well as, appraisal, auction, and off-lease remarketing services. 

"Loeb has grown its finance group with great people and with the addition of Andy that continues," stated Jim Newman, Principal, Loeb Term Solutions. "I look forward to working with Andy and having him take over the Origination part of our group." 

Andy brings over 16 years' experience as an accomplished senior bank executive with significant experience as a middle market commercial banking officer. Previously at PrivateBank working with their special assets group and most recently with First Midwest Bank, Andy has focused on lending to finance companies, leasing companies, and collateral lenders. 

Andy received his undergraduate degree in Economics from Benedictine University and MBA from the University of Notre Dame. He is an active member of the Commercial Finance Association (CFA), both with the Chicago chapter and the national organization. 

He will be based out of Loeb's corporate headquarters in Chicago, Illinois and will be working with lead sources nationwide providing solutions across all of Loeb's business divisions. Andy resides in Glenview with his family where he enjoys coaching his children, golf, hiking, and fishing. 

Since 2010, Loeb Term Solutions has provided funding on over $200 million dollars' worth of industrial machinery. The company's asset-based lending division offers term loans on machinery and equipment with funding amounts ranging from $300,000 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. For more information on Loeb Term Solutions and its recently funded deals, visit: www.loebtermsolutions.com.

To contact Andy directly he can be reached at AndyK@LoebTermSolutions.com or (773) 496-5739.

Loeb Term Solutions Invests in SQN Latina to Provide Equipment Financing in Mexico

The Partnership is Focused on Providing Equipment Financing in Mexico with Fundings up to $4,000,000 per Deal 

Loeb Term Solutions announces its recent partnership in SQN Latina, a Mexico city-based industrial asset lender focused on small and medium enterprises. The partnership between the two companies is breaking barriers in the manufacturing, construction and transportation industries by its ability to offer equipment financing in Mexico. 

"We have received many requested from U.S. manufacturers that have facilities in Mexico that would like to leverage that equipment. Until now there has not been a seamlessly integrated way to do this in U.S. currency," stated John Hagist, CFO of Loeb. "We're thrilled with this new partnership and the opportunities that it will bring to our clients, both state-side and based in Mexico." 

Domestic companies wanting to leverage their assets in Mexico, but borrow and pay in U.S. dollars (USD), now have options to secure financing. The deals, ranging between $500,000 and $4,000,000 dollars (USD), are structured as sixty-month term leases with a small residual. 

SQN Latina is founded by Tanir Helayel and Eduardo Mendoza, veterans in asset-based lending with over 30 years in industrial financing. Currently the start-up has secured lending lines of over $75,000,000 USD. 

Since 2010, Loeb Term Solutions has provided funding on over $200 million dollars' worth of industrial machinery. 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, a fifth generation provider of reliable equipment and related services to the industrial marketplace. For more information on equipment term loans from Loeb Term Solutions visit www.loebtermsolutions.com. 

About Loeb

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, certified market appraisals, auction services and equipment term loan financing. For more information on Loeb or any of its business units, please visit: www.loebequipment.com. 

About SQL Latina

Headquartered in the heart of Mexico City, SQN Latina was established to meet the needs of small and medium businesses for procurement and financing of industrial equipment, across industries as diverse as manufacturing, high tech, construction, industrial services, utilities and more. Our funding capabilities are second-to-none, allowing for leasing of all brands of equipment in the most competitive, efficient and flexible terms. SQN Latina's account managers are experts within the industries they serve and have an intimate knowledge of commercial equipment and leasing. Our goal is to establish solid, long term relationships with our customers, investing in our partners and referral sources. For more information, visit: www.sqnlatina.com

LTS Provides Financing on Over $7.4 Million Dollars’ Worth of Industrial Equipment

Loeb Term Solutions provided financing of over $7,400,000 dollars’ worth of equipment to a Southeast metalworking facility which has experienced substantial growth over the past 8 years. The financing is helping the facility, which specializes in steel and aluminum mounting products for the solar industry, restructure their debt and refinance the existing leases on their machinery.

Since 2010, Loeb Term Solutions has provided funding on over $185 million dollars’ worth of industrial machinery. 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, a fifth generation provider of reliable equipment and related services to the industrial marketplace.  For more information on equipment term loans from Loeb Term Solutions visit www.loebtermsolutions.com.

Loeb Term Solutions Finances Equipment Valued at Nearly $7.8 Million in February

The entire process – initial contact, letter of intent, site visit, due diligence, resolution of gating issues, documentation, and closing – has been one of the easiest interactions that I have had as a turnaround professional in almost 20 years.  – S. Williams, Managing Director

FEATURED FUNDING:

Customer: A South Central Oil Driling Manufacturer Financial Situation: The new owner of the company was in need of additional working capital order to complete the acquisition. Solution: Loeb Term Solutions provided a term loan on the equipment valued in excess of $1.9 Million

OTHER FUNDINGS INCLUDE:

$3.3 Mil. to a South Central Oilfield Support Company	$1.4 Mil. to a Southwest Technology Manufacturer	$650,000 Southwest Steel Fabrication Facility	$550,000 Midwest Plastics Manufacturer

Startups, fast growing, downsizing, bankruptcy, note purchases...We finance all types of businesses because we know asset values!

Over $105 Million Worth of Equipment Financed!

How can we help you close more deals?

If you are currently working with clients who may have upcoming financing needs, contact Jim Newman today at (773) 496-5720 or jimn@loebtermsolutions.com.

Learn More About Loeb Term Solutions ›

Loeb Term Solutions Finances Over $9 Million Dollars Worth of Industrial Equipment in January Providing Solutions for 3 Manufacturers

Equipment Valued in Excess of $6.8 Million to a South Central Textiles Factory

Equipment Valued in Excess of $1.7 Million to a Southeast Plastics Manufaturer

Equipment Valued in Excess of $550,000 to a Midwest Plastics Manufacturer

"I wanted to write to thank you personally for your heroic efforts and 'stick-to-it-iveness' in getting our deal done...This business is our life's work and you are an integral part of it now. You are way more than a lender to me--more like a real hard working and trusted friend. We thank you for what you are doing as a lender. We cherish you for what you are doing as a friend." - R. Davis, CEO

On the heels of a record funding year for Loeb Term Solutions, the Chicago-based lender has closed January by financing another $9,000,000 dollars worth of industrial machinery and equipment. The financing will help a global textile company open a new US facility and two plastics manufacturers expand their businesses during a time of growth.

“Our equipment term loans were initially conceived to help companies just like these three,” stated Jim Newman, Loeb Term Solutions’ Managing Partner. “With our extensive history in manufacturing equipment and our machinery knowledge, we are uniquely positioned to help companies needing to leverage working capital from their existing assets in order to expand their operations.”

Since 2010, Loeb Term Solutions has provided funding on over $97 million dollars’ worth of industrial machinery. 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, a fifth generation provider of reliable equipment and related services to the industrial marketplace.  For more information on Loeb Term Solutions and its recently funded deals, visit: www.loebtermsolutions.com.

7 Things You Need to Know About Equipment Based Lending

By Jim Newman Principal

Recently, I was approached to speak on a panel regarding lending on special assets. Time and time again, I was asked about Loeb Term Solutions' unique approach to the lending business based on our extensive history of buying, selling, appraising and auctioning industrial assets. Simply put, we live and breathe machinery! I thought, as obvious as it may seem to us at Loeb, it might prove helpful to our partners in the lending community to know the 7 Key Points we apply to our term loan process.

7 Things You Need to Know When Lending on Machinery:

1. Understand how fast the market can absorb the type of machinery being financed. Highly specialized equipment usually takes longer to liquidate than "standard" mainstream equipment. It is the job of the lender to understand this liquidation process and to make sure they are comfortable and that the projections are obtainable. Remember, the more comfortable the lender is, the more money the lender may choose to advance. 
2. Have a clear exit strategy. Have a clear understanding on how you will liquidate the machinery in the event of a default. The easier this process is, the easier it is for the lender to advance more money.
3. Be flexible with the original collateral pool. In the event of third party leases, you must be willing to allow a small amount of the equipment to continue with its lease. Especially if there is excess equity in the lease and that equity is not needed to structure your deal. However, you should make sure to file a blanket lien on all the equipment in the event of liquidation. The equity in the leased equipment should "captured" for the benefit of the lender and the borrower.
4. Always make sure you have a first position lien on the machinery. All the old liens must be cleaned up during the due diligence process in order to properly secure your investment.
5. Always file a blanket lien on all assets in order to protect the guarantor of the loan. This prioritizes that the business assets are used first to pay off the lender before any personal assets are needed. When the borrower is also borrowing from another lender on its A/R and/or inventory, the two lenders must have an intercreditor agreement in place to spell out their respective positions on the assets.
6. Prepare to be flexible during the term of the loan as the borrower's needs change. Lenders need to have a method to provide additional funding to borrowers who have kept current with their existing loan and need additional funds for additional equipment.   
7. Always trust your instincts! Lenders cannot document everything that is possible. We always depend on the integrity of the borrower as the relationship needs to be a win/win relationship. 

Loeb Term Solutions is always looking to assist Lenders with hard to finance assets...We finance all types of businesses because we know asset values!

How can we help you close more deals?

Loeb Term Solutions Welcomes Dave Wanders to Team as New Business Development Officer

Loeb is pleased to announce the addition of Dave Wanders to the Loeb Term Solutions team as its newest Business Development Officer. He joins Jim Newman, Managing Partner and the rest of the team in focusing on expanding the financial arm's equipment-based lending portfolio.

"Dave's addition to the team comes at a time of growth for the company," stated Jim Newman, Loeb Term Solutions' Managing Partner. "In just three short years we've grown a considerable portfolio of equipment-based deals funded with significant growth potential in 2014."

Since 2010, Loeb Term Solutions has provided funding on over $40 million dollars' worth of industrial machinery within the food, pharmaceutical, chemical, cosmetic, metalworking, and woodworking industries. The company's asset-based lending division offers specialty financing for the industrial marketplace with funding amounts ranging from $300,000 to $5,000,000.

"Having previously worked with Dave in the industry, we knew someone with his experience, integrity, and knowledge would be a huge asset to our team," stated Howard Newman, President of Loeb.

Dave is an industry veteran with over 30 years of corporate and commercial finance experience largely in the asset based industry. Most of his career has been spent in business development focusing on sales and general management for such companies as: Goldman Sachs, GE Capital, First National Bank of Chicago, Transamerica Business Credit, Stearns Financial Services, and Gibraltar Business Capital.
He holds a B.A. from Yale University and M.M. from Northwestern University's Kellogg School of Management and is a member of the Turnaround Management Association, the Association for Corporate Growth, the Alliance of Merger & Acquisition Advisors and the Midwest Business Brokers & Intermediaries.

Loeb Term Solutions is an affiliate of Loeb offering equipment term loans and purchase leasebacks to the industrial marketplace. For more information on Loeb Term Solutions and its recently funded deals, visit: www.loebtermsolutions.com. To contact Dave directly regarding financing or new business opportunities, he can be reached via email at davew@loebtermsolutions.com or (312) 509-0943.

About Loeb
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.