## Loeb Steps Up Where Banks Falter: $10 Million in Term Loans Fuel Businesses in Q3 2024
As banks continue to tighten their lending practices, businesses across various sectors find themselves in a challenging financial landscape. Loeb, a financial institution with a long history of supporting manufacturers and financial institutions, is stepping into the breach, providing a critical lifeline for companies that don’t meet traditional bank requirements.
In the third quarter of 2024, Loeb successfully funded close to $10 million in machinery and equipment term loans, injecting much-needed working capital into a diverse range of businesses. This funding has enabled companies in industries such as electrical contracting, forestry, transportation, woodworking, construction, beverage, metalworking, and plastics to maintain their operations and achieve their growth goals.
Loeb’s unique approach to asset valuation is what sets them apart from traditional lenders. By focusing on the value of machinery and equipment rather than relying solely on creditworthiness, Loeb can offer swift and efficient financing solutions that are often inaccessible through conventional channels. This allows companies to access the funds they need without facing lengthy and restrictive approval processes.
Loeb’s commitment to hassle-free financing is further evident in their loan terms:
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Quick Funding:
Companies can typically secure funding within four weeks, enabling them to act quickly and seize opportunities.*
No Covenants:
Loeb’s loans are covenant-free, providing businesses with the flexibility they need to operate without burdensome restrictions.*
Focus on Asset Value:
Funding decisions are based on the value of the machinery and equipment, offering a solution for companies that may not have a perfect credit history.*
Multiple Financing Options:
Beyond term loans, Loeb offers equipment lines of credit and leasebacks, catering to a wide range of financing needs.Highlighting the impact of Loeb’s funding:
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$3 Million to an Electrical Contractor:
This substantial investment enabled the company to expand its operations and take on new projects.*
$2 Million to a Forestry Company:
This loan empowered the company to acquire essential equipment and increase its harvesting capacity.*
$1.7 Million to a Transportation Company:
This funding allowed the company to purchase new vehicles, enhancing its fleet and service capabilities.*
$1.3 Million to a Woodworking Company:
The loan provided the company with the resources to upgrade its machinery, leading to increased efficiency and production.Loeb’s President, Howard Newman, emphasizes the importance of their role in a challenging market:
“In Q3 of 2024, the trend of banks tightening credit and refusing to lend continues. Loeb continues to keep the lending doors open, providing quick, covenant-free loans to our clients based solely on asset values and not on clients’ credit.”
About Loeb:
Since 1880, Loeb has been a leading provider of financial solutions for manufacturers and financial institutions, helping them maximize the value of their industrial assets. By offering flexible financing options and expert asset valuations, Loeb empowers businesses to achieve their financial goals.
For more information, please visit:
[loebequipment.com](loebequipment.com)Press Release Contact:
Eric Schwartz
marketing@loebequipment.com
773-548-4131
*This content is for informational purposes only and does not constitute financial advice.*