Loeb Term Solutions Welcomes Eric Grozenski to the Team as a Business Development Officer

Loeb is pleased to announce the addition of Eric Grozenski 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.

"Eric's addition to the team comes at a time of considerable growth for the company," stated Jim Newman, Loeb Term Solutions Managing Partner. "In the past 18 months, Loeb Term Solutions experienced significant growth in our lending portfolio and we are expanding our team as well."

Since 2010, Loeb Term Solutions has provided funding on over $108 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. 

Eric will be based out of Loeb's Detroit, Michigan office and will be working with customers throughout Michigan, Ohio, and Indiana providing equipment based financial solutions.

Eric brings more than 5 years' experience with asset-based lending and factoring in the industrial marketplace. He holds a B.A. in finance from Ferris State University. 

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 Eric directly regarding financing or new business opportunities, he can be reached via email at ericg@loebtermsolutions.com or (773) 620-1858.

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.

Loeb Term Solutions Funds 8 Million Dollars in Equipment Financing to a West Coast Aerospace Metalworking Firm

Loeb Term Solutions recently funded 8 million dollars to a West Coast metalworking facility specializing in aerospace components.

The term loan provided the working capital necessary to restructure the firm and reassume a majority holding of stock in the firm. Headquartered in the US, but with global capabilities in Mexico and the United Kingdom, the client is a leading manufacturer of high-precision, close tolerance, large-scale, flight critical components and tooling for the commercial aerospace, defense, space and industrial markets.

“Fundings of this size require a real team effort. We really enjoy working with the borrower, the business broker, and all the professionals involved in a funding like this one,” stated Jim Newman, Loeb Term Solutions’ Managing Partner. “It is gratifying to be able to help a borrower accomplish something like this.”

This finance deal represents one of two large additions to Loeb Term Solutions’ portfolio this month with the other funding totaling just over 12 million dollars. 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 $20,000,000.

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.

Loeb Term Solutions Funds Over 12 Million Dollars in Equipment Financing to a Midwest Company, Acting as Lead Syndicate

As the lead participant in a syndicated financing deal, Loeb Term Solutions recently partnered in funding over 12 million dollars in equipment term loan financing. The term loan will provide the working capital necessary to solidify the acquisition of a Midwest metalworking company to new owners.

As the lead participant, Loeb Term Solutions worked directly with the borrower, their management team, and corporate advisors, structuring the deal from the initial stages through to completion and providing $4,000,000 toward the final funding amount.

Headquartered on Chicago's south side, the newly merged operations will provide scrap metal services, electronic and medical equipment removal, resale, dismantlement and recycling, asset management, document shredding, cardboard, paper, wood, plastics, and technology recycling.

"Given the nature of this finance deal, we worked extremely close with the client's AR lender to provide as much liquidity as possible," stated Jim Newman, Loeb Term Solutions' Managing Partner. "Our equipment term loans are structured in a way to work in tandem with the AR lenders in order to maximize the working capital in complex scenarios often deemed as un-bankable by traditional lenders."

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.

Loeb Term Solutions is an affiliate of Loeb offers 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.

Over 6.5 Million Worth of Equipment Financed in September Solving 3 More Clients Needs

"Loeb Term Solutions came through with a quick and affordable financing option for us and the process was seamless from start to finish. We were very pleased with the quality of the service provided, the responsiveness, and the way the entire Loeb team conducts business. -- Kim, FL

Equipment Valued in Excess of $4.1 Million to a Midwestern Mfg. of Cast Aluminium Auto Components

Equipment Valued in Excess of $1.5 Million to a Southeastern Precision CNC Mfg. Facility

Equipment Valued in Excess of $750,000 to a Midwestern Precision CNC & MIG Welding Facility

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

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?