Equipment Leasing and Finance Association - Equiping Business for Success

36th Street Closes $8 Million Financing for Global Rideshare Company

Posted 03/02/2020
For release Monday March 2, 2020 - 36th Street Capital announced a recently funded $8 million equipment financing for a leading technology company that provides ridesharing, meal preparation and delivery services to end-users worldwide.

“This transaction required us to partner with the captive financing arm of a major technology firm to finance essential use equipment for this publicly traded company,” said Mark Horan, Chief Growth Officer at 36th Street.  “We’re very excited to bring this credit into our portfolio. Based on the collateral, business model and company’s strong customer base, we were able to get comfortable with the company’s path to profitability. We’re pleased we could structure a transaction that provided additional liquidity for the company and achieved a successful outcome for our origination partner.”

36th Street Capital is an alternative funding source supporting the equipment finance industry. The firm specializes in transactions with middle market companies who find it difficult to obtain credit from traditional industry sources.

About 36th Street Capital


36th Street Capital Partners, LLC is an independent provider of alternative funding solutions for the equipment financing industry. With offices in New Jersey, Illinois and California, the firm provides growth capital or liquidity options to middle market companies nationwide through loan and lease transactions. 36th Street Capital Partners, LLC is a joint venture affiliate of BlackRock TCP Capital Corp (NASDAQ: TCPC).  For more information, visit www.36thstreetcapital.com.

For additional information please contact:

Mark Horan
mhoran@36thstreetcapital.com
908-741-8452

 
Author
Kiran Kapur
Organization
36th Street Capital Partners LLC
Phone Number
9087418451

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