TROY, MICHIGAN (August 20, 2013) – Crestmark secured a total of $3,700,000 in financial solutions for four new clients in the first two weeks of August.
- On August 8, a $1,500,000 ledgered line of credit facility was provided to an Oklahoma oil and gas well services company. Funding will be used to provide working capital.
- A $250,000 accounts receivable purchase facility was provided on August 12 to a Kentucky transportation company. Funding will be used to provide working capital.
- On August 15, a $750,000 ledgered line of credit facility was provided to a Michigan automotive services company.
- A $1,200,000 asset-based lending facility was also provided on August 15 to a California manufacturing company. Financing will be used to pay off a prior lender and provide 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, petrochemical, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with locations in California, Florida, Louisiana, Tennessee, New York, and Illinois; representatives in Alabama, Maryland, North Carolina, and Texas. www.crestmark.com