Five Transactions Closed the First Two Weeks of October Total $3.5 Million for New Crestmark Clients
TROY, MICHIGAN (October 18, 2012) – The first two weeks of October, Crestmark helped five new clients secure agreements totaling $3,500,000.
• On October 2, Crestmark provided a $150,000 Accounts Receivable Purchase facility to a Michigan-based logistics company, a division of a transportation corporation. Funding will be used as working capital for this logistics start-up looking to make more of a presence in Southeast Michigan.
• October 3, Crestmark funded a $1,000,000 Asset-Based Lending facility for a North Carolina importer of gift and home décor items sold by national retailers. This funding will be used for amortization and working capital.
• Crestmark funded an $850,000 Ledgered Line of Credit facility October 5 for an Illinois company and three affiliates that provide aftermarket commercial/corporate aircraft engines, materials and avionics. Funding will help the company create a stronger foothold domestically, as well as in the international aircraft arena.
• A $500,000 Ledgered Line of Credit facility was funded October 9 for a start-up IT staffing firm in Colorado. Funding will be used for working capital.
• On October 11, Crestmark funded a $1,000,000 Ledgered Line of Credit for a Florida-based distributor focused in the defense and aerospace industries. Funding will be used for amortization and working capital.
Crestmark is a nationally known and respected FDIC-insured bank that provides innovative financial solutions for small- to medium-sized businesses. Financing solutions include asset-based lending, accounts receivable financing, lines of credit and factoring. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with offices in Florida, Louisiana, Tennessee, New York, Alabama, California, Illinois, Ohio, Missouri, North Carolina, and Texas. www.crestmark.com