Crestmark Closes Eight Transactions Totaling more than $5.5 Million in the Last Two Weeks of March
TROY, MICHIGAN (April 2, 2013) – Crestmark secured a total of $5,600,000 in financial solutions for eight new clients since March 15.
• On March 20, a $1,500,000 a ledgered line of credit facility with advances on accounts receivable was provided to a Florida technology distributor. Financing will be used for working capital.
• On March 22, a $500,000 traditional factoring facility was provided to a New Jersey start-up company that manufactures and distributes wholesale apparel.
• A $350,000 ledgered line of credit facility with advances on accounts receivable was provided on March 26 to a temporary staffing company in Michigan that provides medical staffing to hospitals.
• On March 27, a $750,000 accounts receivable purchase facility was provided to a Texas transportation company that hauls meat, frozen foods, and produce across the southwest.
• On March 29, a $500,000 traditional factoring facility was provided to a Mississippi furniture company that sells to furniture retailers nationwide.
• A $750,000 accounts receivable purchase facility was also provided on March 29 to a California staffing company providing administrative and clerical resources. Financing will be used for working capital.
• Also on March 29, a $1,000,000 ledgered line of credit facility was provided to a northern-California staffing company. Financing will be used for working capital.
• A $250,000 ledgered line of credit facility was also provided on March 29 to an Alabama start-up providing general labor and manufacturing staff. Financing will be used for 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, factoring and equipment financing. 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, Maryland, North Carolina, and Texas. www.crestmark.com