36th Street Capital funded $10 million in equipment financing of barges and marine equipment for a marine transportation equipment company.
“We’re very excited to get this deal closed in the first quarter,” Mark Horan, chief growth officer for 36th Street Capital, said. “Our originations partner, a large captive finance company, was looking for a capital partner to help manage their exposure. The ‘storied credit’ profile of the obligor was not a fit for traditional financing partners. As an independent provider of alternative capital, we were able to step in and fill the void.”