$28M equipment finance facility for Indiana automotive supplier.
Two-year equipment finance facility funds 14 new multi-axis machining centers at the borrower's Fort Wayne facility, supporting a recently-awarded EV powertrain program.
Steelbanc today announced the closing of a $28 million equipment finance facility for a privately-held Tier 1 automotive component supplier headquartered in northeast Indiana. The facility funds the acquisition and installation of fourteen new multi-axis CNC machining centers at the borrower’s Fort Wayne, IN manufacturing plant.
The equipment supports a recently-awarded electric vehicle powertrain program that the borrower expects to ramp through 2027. The facility is structured as a five-year amortizing equipment loan with terms matched to the useful life of the financed assets.
“Equipment finance, done well, is about understanding the asset as deeply as you understand the borrower,” said a senior member of Steelbanc’s Equipment Finance team. “That is what our underwriting team brings.”
The transaction is the seventh equipment finance facility Steelbanc has closed in 2026 to date.
Steelbanc is a specialty commercial lender purpose-built for North American manufacturers. Founded in 2022 and headquartered in New York with an office in Chicago, the firm provides senior secured credit, equipment finance, and working capital facilities to mid-market industrial operators across the United States and Canada. Learn more at steelbanc.com.
Steelbanc Press Desk — press@steelbanc.com