Hertz Equipment Rental Corp., recently established in Riyadh, Saudi Arabia, continues its international growth in Mongolia.
Hertz Equipment Rental Corp., recently established in Riyadh, Saudi Arabia, continues its international growth in Mongolia.
Hertz Equipment Rental Corp., recently established in Riyadh, Saudi Arabia, continues its international growth in Mongolia.
Hertz Equipment Rental Corp., recently established in Riyadh, Saudi Arabia, continues its international growth in Mongolia.
Hertz Equipment Rental Corp., recently established in Riyadh, Saudi Arabia, continues its international growth in Mongolia.

HERC in Mongolia Obtains Equipment Financing

Jan. 29, 2015
Mongolia Holdings announced through its wholly owned Mongolian subsidiaries Hertz Equipment Rental Corp. LLC and Equipment Rental LLC that it has entered into a loan agreement with XacBank for a $10 million equipment financing transaction for its Hertz Equipment Rental franchise operations in Mongolia.

Mongolia Holdings announced through its wholly owned Mongolian subsidiaries Hertz Equipment Rental Corp. LLC and Equipment Rental LLC that it has entered into a loan agreement with XacBank for a $10 million equipment financing transaction for its Hertz Equipment Rental franchise operations in Mongolia. The financing represents the first $10 million franche of a proposed $40 million line of credit arranged by XacBank.

XacBank is one of Mongolia’s largest banks, serving retail customers, small- and medium-sized businesses as well as large corporations.

“This culminates over three years of planning, due diligence, hard work and execution,” said Mongolia Holdings CEO Gary Kucher. “This completes a truly historic milestone for the company and a significant corporate financing within Mongolia. This credit facility allows the company to further execute its business plan, and we anticipate announcing additional progress in the near term.”