Company News
Article from Phoenix Business Publication
THE BUSINESS JOURNAL, PHOENIX (September 16, 2005) - A Scottsdale company that helps small and medium-sized businesses finance truck and vehicle purchases received a financial boost from Bank of America.
Cobalt Finance secured a $25 million loan from Bank of America Business Capital. The company will use those funds to help small businesses finance tractor trailers and other trucks.
Cobalt president Jason Rush said the Bank of America loan will help the company "grow our portfolio and expand geographically."
Rush said many small transportation and transportation-dependent businesses, as well as independent truck drivers, require financing help when buying or leasing large trucks to haul products.
Cobalt currently operates in 30 states.
— Mike Sunnucks