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Crestmark Closes 11 Transactions Totaling more than $22 Million in the First Two Weeks of May

TROY, MICHIGAN (May 17, 2013) – Crestmark secured a total of $22,250,000 in financial solutions for 11 new clients since May 1.

• On May 2, a $600,000 ledgered line of credit facility was provided to a Montana transportation company.

• A $550,000 accounts receivable purchase facility was provided on May 3 to a Florida specialty camera manufacturer and distributor.

• Also on May 3, a $550,000 accounts receivable purchase facility was provided to a Canadian specialty camera manufacturer and distributor.

• On May 6, a $250,000 traditional factoring facility was provided to a Florida apparel company.

• A $4,300,000 ledgered line of credit facility with an equipment term loan was provided on May 8 to a Texas oil well company. Funding will be used to pay off a prior lender and provide working capital.

• On May 9, a $2,500,000 ledgered line of credit facility was provided to an Alabama food processing plant. Funding will be used to provide working capital.

• On May 10, a $6,000,000 asset-based lending facility with advances on accounts receivable and inventory was provided to a Massachusetts equipment manufacturer.

• A $3,500,000 ledgered line of credit facility was also provided on May 10 to a North Carolina lumber broker.

• Also on May 10, a $500,000 accounts receivable purchase facility was provided to a Tennessee electrical, lighting, and HVAC distributor.

• On May 13, a $2,500,000 ledgered line of credit facility was provided to a California solar energy system design, engineering, and distribution company.

• A $1,000,000 ledgered line of credit facility was provided on May 14 to a Texas industrial services company.
 

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, factoring and equipment financing. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with locations in Florida, Louisiana, Tennessee, New York, and Illinois; representatives in Alabama, California, Ohio, Maryland, North Carolina, and Texas. www.crestmark.com

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