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Crestmark Closes Eight Transactions Totaling More Than $15 Million in the Last Two Weeks of May

TROY, MICHIGAN (June 3, 2013) – Crestmark secured a total of $15,250,000 in financial solutions for eight new clients since May 15.

• On May 16, a $4,000,000 accounts receivable purchase facility was provided to a Colorado medical staffing agency.

• On May 17, a $200,000 accounts receivable purchase facility was provided to a California freight broker. Funding will be used to provide working capital.

• A $750,000 accounts receivable purchase facility was provided on May 22 to a Florida food wholesaler.

• On May 23, a $4,500,000 asset-based lending facility with advances on accounts receivable and inventory was provided to a California furniture manufacturer and distributor.

• Also on May 23, a $200,000 ledgered line of credit facility was provided to a North Carolina manufacturer and distributor of cleaning products.

• A $1,500,000 ledgered line of credit facility and a $350,000 term loan facility were provided on May 24 to a North Carolina trucking company. Funding will be used to provide working capital.

• On May 31, a $3,000,000 asset-based lending facility with advances on accounts receivable was provided to an Illinois collection agency.

• Also on May 31, a $750,000 accounts receivable purchase facility was provided to a Tennessee trucking company hauling expedited freight in the Midwest.

 

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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