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Working Capital Solutions Provided in May 2011

 
PRESS RELEASE
For Immediate Release June 9, 2011
 
Contact: Lisa Beattie
Phone: 248-267-1639
lbeattie@crestmark.com

Crestmark provided $13,750,000 in working capital facilities to 18 new businesses in May 2011.

Crestmark’s Troy, MI office provided:
 
  • $1,750,000 accounts receivable purchase facility to a California distributor of fuel and lubricants
  • $250,000 accounts receivable purchase facility to a Michigan metal fabricator
  • $1,500,000 working capital line of credit to a California IT staffing provider
  • $500,000 to a Michigan manufacturer of air pollution control devices
  • $250,000 accounts receivable purchase facility to an Ohio heating and cooling service provider
  • $3,000,000 working capital line of credit to a Missouri apparel designer
  • $500,000 working capital line of credit to Michigan tool manufacturer
  • $750,000 working capital line of credit to a Michigan medical staffing company
  • $600,000 working capital line of credit to a California machine tooling manufacturer
 
Crestmark’s West Palm Beach, FL office provided:
 
  • $500,000 accounts receivable purchase facility to a Florida staffing company
 
Crestmark’s Baton Rouge, LA office provided:
 
  • $300,000 working capital line of credit to an Alabama supplier to the aerospace and medical industries
  • $2,000,000 factoring facility to a Texas provider of IP solutions
  • $750,000 factoring facility to an Alabama tarp manufacturer
 
Crestmark’s Nashville, TN office provided:
 
  • $350,000 accounts receivable purchase facility to an Illinois start-up truck load carrier
  • $750,000 accounts receivable purchase facility to an Alabama refrigerated load hauler
 
Crestmark’s Hoboken, NJ office provided:
 
  • Funds as collected arrangement to a New York designer of pool accessories
  • Funds as collected arrangement to a New York developer of computing travel accessories
  • Funds as collected arrangement to a New York women’s footwear designer
 
Crestmark is a nationally recognized provider of working capital solutions for small- to medium-sized businesses. Financing solutions include asset-based lending, accounts receivable financing and factoring. Headquartered in Troy, Michigan, with regional offices in Florida, Louisiana and Tennessee; sales offices located in Alabama, California, Florida, Georgia, Illinois, New Jersey, New York, Ohio, Missouri, North Carolina and Texas. www.crestmark.com
 
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