In Utah, Tetra Financial Group announced it has provided $800,000 in lease financing to a large Ohio-based ethanol company for a grain elevator. The company’s operations involve the purchase, storage and sale of corn, soy beans, wheat and various other types of grains.
The financing in this transaction was for a grain elevator, silos, bins and conveyors. The grain elevator has a storage capacity of over 2.0 million bushels and will help support the company’s growth strategy by providing it with a larger footprint to procure product and greater storage capacity.
The grain elevator was acquired in a private party sale, rather than from a commercial equipment vendor, which was facilitated by Tetra Financial’s flexibility and commitment to serving its customers’ critical equipment financing needs. Tetra Financial’s expertise allowed it to provide not only sale-leaseback financing for used equipment, but also to provide financing in the challenging ethanol industry. Tetra Financial is able to provide financing for a large variety of equipment, regardless of the industry.