Utica forms equipment finance arm

David Levy, president of Utica Leaseco, said: “Customers and referral partners have been asking for an integrated platform to serve customers who are between bank credit products and Utica Leaseco’s current collateral-based product offering.

“We believe Utica Equipment Finance will fill that gap by creating a one-stop-shop and seamless end-to-end customer experience. We have high regard for Ed Stolarski and welcome him to the Utica team.”

Utica Equipment Finance provides credit-based loan and lease options from $500,000 to more than $25 million to companies in the US and Canada. Products include capital and true leases, along with secured equipment loans for companies looking to improve cash flow by refinancing assets.

Stolarski said: “We see an exciting opportunity to help businesses across the full credit spectrum address their equipment finance needs.

“Providing a single point of entry for the application process, with prime through subprime equipment finance options, creates a much simpler and faster experience for customers.”