Mining Equipment

This southeastern U.S. based mining company produces and supplies thermal and metallurgical coal to electrical utilities, steelmakers, and industrial companies. They currently operate five mines with an eye toward further expansion.

Onset Financial, through its subsidiary Mazuma Capital, funded $10M in surface and below ground mining equipment. This company was founded in 2008 and had less than 5 years of operating history when Mazuma began funding their leased equipment. Although the coal industry was out of favor, Onset secured the full $10M request and has enjoyed the relationship with the customer.