Crestmark Closes Six Transactions Totaling more than $3 Million in the First Two Weeks of April
TROY, MICHIGAN (April 18, 2013) – Crestmark secured a total of $3,050,000 in financial solutions for six new clients since April 1.
• On April 5, a $150,000 accounts receivable purchase facility was provided to a Kentucky start-up trucking operation hauling general dry freight primarily in the southern states.
• A $500,000 ledgered line of credit facility was provided on April 10 to a Michigan broker and distributor of steel.
• Also on April 10, a $750,000 ledgered line of credit facility was provided to an Alabama medical staffing company. Financing will be used to pay off debts and provide working capital.
• On April 11, a $600,000 ledgered line of credit facility with advances on accounts receivable was provided to an Ohio manufacturer of sublimation printing.
• A $300,000 accounts receivable purchase facility was provided on April 12 to a California company that assists car rental agencies dispose of their fleets.
• On April 15, a $750,000 ledgered line of credit facility was provided to a South Carolina staffing 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 offices in Florida, Louisiana, Tennessee, New York, Alabama, California, Illinois, Ohio, Maryland, North Carolina, and Texas. www.crestmark.com