debt
confidence high
sentiment neutral
materiality 0.40
RenX subsidiary enters ~$2.55M equipment financing with Commercial Credit Group
RenX Enterprises Corp.
- Resource Group LLC issued two notes totaling $2,555,186 to finance a Komptech Crambo shredder and Diamond Z horizontal grinder.
- First Note: $1,507,658 with an initial payment of $265,466 followed by 48 monthly installments of $25,879.
- Second Note: $1,047,528 with an initial payment of $195,000 followed by 48 monthly installments of $17,761.
- Notes are secured by all assets of Resource Group; default rate up to 18% per annum.
- Proceeds used to purchase equipment previously under rental arrangement with a ~$700K down payment already made.
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