Facility supports fleet expansion following the company’s post-restructuring turnaround
Toronto, ON – August 27, 2026 – Garrington Capital, a senior secured, asset-based lender to the middle market, today announced it has provided a $2 million equipment financing facility to an oil and gas service entity operating in Nevada. The borrower’s name is being withheld at its request.
The facility, sized at 80% of the appraised value of the company’s equipment, will fund the purchase of additional equipment, increasing capacity to serve customer demand. The financing follows the company’s recent Reverse Vesting Order (RVO) restructuring, which transferred all assets free and clear and gave it a clean balance sheet.
The facility allows the company to draw in $500,000 increments as equipment needs arise, with repayment tied into the company’s existing factoring facility with Garrington so principal and interest can be paid seamlessly.
“We already knew this group through our factoring relationship, so we understood the business and could move quickly. Structuring the term loan to draw in increments and tie into their existing facility let us match the financing to how the business actually operates,” said Erica Axani, Executive Vice President & Chief Risk Officer at Garrington Capital.
With the new facility in place, the company is positioned to scale operations through its seasonally strong months.
ABOUT GARRINGTON CAPITAL™
Garrington Capital™, one of the premier commercial finance lenders in North America, with over 50 employees across North America, has completed over USD $5 Billion in total financings since inception. Garrington Capital has a wide reach with centralized offices in the USA and Canada, as well as a physical sales presence in over 20 jurisdictions through its loan origination subsidiary Liquid Capital Corp. and Baker Garrington Capital Corp. Garrington Capital is committed to supporting small and medium-sized enterprises across North America by providing customized financing solutions. Garrington Capital’s non-bank funding options are designed to address unique business challenges and help clients overcome obstacles to secure the capital they need. By offering flexible terms and a transparent approval process, Garrington Capital empowers borrowers by ensuring they can focus on driving growth and achieve their goals. With a dedication to personalized service and deep industry expertise, Garrington Capital strives to be a reliable partner that fosters long-term success.
MEDIA CONTACT
For more information about Garrington Capital, visit www.garringtoncapital.com or contact Jaclyn Richard, Vice-President, Business Development at Jaclyn.richard@garringtoncapital.com or (204) 999-8756.