Crestmark Closes Seven Transactions Totaling $13.7 Million in the First Two Weeks of August 2012
TROY, MICHIGAN (August 16 , 2012) – Crestmark is pleased to announce that from July 30 to August 10 the company secured seven new clients totaling $13,700,000.
On July 30, Crestmark provided a $250,000 Accounts Receivable Purchase for an engineering and logistical support service organization based in Alabama.
Also on July 30, Crestmark funded a $4,000,000 Ledgered Line of Credit to a full-service fabrication company in Texas. The company’s main customer base stems from the oil and gas industry, and the funds will be used for working capital.
Crestmark funded $200,000 Accounts Receivable Purchase Facility July 31 for a Texas freight shipping and trucking company. The organization brokers loads for a container fleet company.
A Kentucky-based designer and manufacturer of folding cartons funded August 2 for a $3,000,000 Asset-Based Lending Facility. The funding will be used for amortization and working capital.
On August 9, two companies were furnished a joint $750,000 Co-Borrower Accounts Receivable Purchase Facility. The Michigan companies manufacture and import lighting.
A Texas-based company funded August 9 for $5,000,000 Ledgered Line of Credit. The company handles the warehouse and distribution of chemicals used for hydraulic fracturing. Funding will provide additional working capital.
On August 10 Crestmark provided a $500,000 Ledgered Line of Credit to an automotive production repair company. This Michigan-based company works with a major automotive manufacturer, and the funding will provide working capital.