Crestmark Closes 10 Transactions Totaling More Than $9.6 Million in the First Half of May

TROY, Mich., (May 18, 2017) – Crestmark secured a total of $9,695,000 in financial solutions for 10 new clients in the first half of May.

  • A $1,000,000 new lease transaction was completed on May 1 with a media company in the northeastern U.S. The financing will be used for technology equipment.
  • On May 1, a $2,380,000 SBA 7(a) term loan facility was provided to an independent insurance agency in North Carolina. The financing will be used for acquisition purposes.
  • A $125,000 accounts receivable purchase facility was provided on May 1 to a trucking company in Georgia. The financing will be used for working capital purposes.
  • On May 3, a $750,000 traditional factoring facility was provided to a men’s apparel company in New York. The financing will be used for working capital purposes.
  • A $750,000 accounts receivable purchase facility was provided on May 4 to a trucking company in Minnesota. The financing will be used to pay off an existing lender and for working capital purposes.
  • On May 4, a $750,000 accounts receivable purchase facility was provided to a startup trucking company in Illinois. The financing will be used for working capital purposes.
  • A $1,140,000 SBA 7(a) term loan facility was provided on May 5 to an independent insurance agency in Michigan. The financing will be used to pay off an existing lender and for acquisition purposes.
  • On May 8, a $2,000,000 asset-based line of credit facility was provided to a manufacturer of plastic packaging in California. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $500,000 traditional factoring facility was provided on May 9 to a distributor of men’s and women’s apparel in New York. The financing will be used for working capital purposes.
  • On May 12, a $300,000 accounts receivable purchase facility was provided to a trucking company in Alabama. The financing will be used to pay off an existing lender and for working capital purposes.