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A business-to-business lender specializing in providing diverse financial solutions, Crestmark was founded on the notion that there was a niche in need of help: the small-to-medium sized businesses that needed funding the more traditional banks could not provide. So, founder W. David Tull left the world of traditional banking, and started Crestmark. Approved as a Michigan-chartered FDIC Bank in 1996, Crestmark opened its doors in Troy, Michigan, and today, still employs many of the people who were here at inception.

Located in the Midwest, it seemed only natural that Crestmark would provide financing to a myriad of manufacturing, service, and transportation industries. And, while we’ve certainly expanded our scope of business since our inception, these industries continue to make up a large portion of the industries that we serve.

Crestmark’s Mission

We strive to add value to small-and medium-sized businesses by providing innovative financial solutions to niche markets. Our success is derived exclusively from the value and satisfaction we provide to our stakeholders – including our clients, employees, shareholders, referral sources, regulators, and the industries and communities we serve. We do our best to foster an atmosphere of creativity, flexibility, and integrity in all that we are – and all that we do.

Crestmark’s Reach Expands

As time passed, it became clear that what Dave had started was working. In fact, we were getting requests for financing far outside of Michigan, so Crestmark sought ways to expand its industry and geographic reach – in order to help businesses across the country.

Dave knew that the apparel, footwear, and home furnishing trades frequently utilized the value-added services and financing offered by traditional non-recourse factors. So, having known Barry J. Essig, a leading expert in the non-recourse factoring market and Spectrum Financial in southeast Florida for years, he decided to augment Crestmark’s offerings, and made Spectrum and Essig part of the team in 2001.

In October 2007, Crestmark expanded its existing capabilities in transportation finance and acquired a long-standing transportation finance company. The Franklin, Tennessee-based company has experienced solid growth since joining the Crestmark team, and offers financial services specially designed to help the transportation industry.

In late 2007, Crestmark found a way to expand its geographic and specialized industry capabilities by acquiring the respected Commercial Capital Lending in Baton Rouge, Louisiana, led by Pat Haney. This team brought extensive knowledge about the financial needs of companies in the energy and petrochemical markets, as well as the intricacies of lending to government contractors, and since joining Crestmark have been a key part of Crestmark’s growth and expansion.

In late 2010, Crestmark again expanded its geographic reach and further strengthened its support of an important aspect of financial services with the acquisition of Westgate Financial. Located in the busy garment district in New York City, the specialized team focuses on supporting the apparel, footwear, furniture and home goods industries with traditional factoring services.

In mid-2013, Crestmark realized a long-time goal of creating an office in Los Angeles, California. This office, now located in Newport Beach, focuses on providing help to the state and region’s diverse economy and marketplace with various asset-based lending facilities.

In late 2014, the Crestmark family and product offerings expanded again with the acquisition of a respected equipment leasing company. TIP Capital, now Crestmark Equipment Finance located in Michigan, is a nationwide technology equipment lease provider. Led by Thomas Rutherford and James Recker, both companies gained increased support and offerings with this move.

In April 2017, small ticket vendor finance provider Allstate Capital joined the Crestmark team. Located in Pompano Beach, Florida, the company was owned and run by Alex Echevarria and Mike Ramazio. Joining Crestmark provided further funding opportunities, and has allowed the team to grow. It has turned into a division called Crestmark Vendor Finance, now located in Boynton Beach Florida and overseen by Larry Pearce, with Alex and Mike as key participants. The division’s industry outreach includes fitness, healthcare, office, and more.

On Aug. 1, 2018, Crestmark was officially acquired by MetaBank®, N.A. headquartered in Sioux Falls, South Dakota — adding strength and opportunity for both organizations. Through this mutually agreeable deal, Crestmark continues to provide its signature commercial lending services nationwide, while operating as a division of MetaBank, a wholly-owned subsidiary of Meta Financial Group Inc.

In early 2020 Crestmark announced an internal restructure with the launch of two new groups that would increase efficiency and timeliness in providing financing to businesses in need. Crestmark’s Business Credit group focuses on asset-based lines of credit, and its Commercial Capital group focuses on capital needs primarily secured by accounts receivable. The change impacts how internal operations underwrites and manages loans while sales prospect communication and outreach to the marketplace remains unchanged.

Crestmark currently has five full-service offices, including the corporate office in Troy, Michigan (which includes the leasing division) as well as offices in Baton Rouge, Louisiana; Boynton Beach, Florida; Franklin, Tennessee; Newport Beach, California; and sales representation throughout the country with a Foreign Representative Office in Canada. We work with an outside network of business professionals such as lawyers, accountants, business consultants, and bankers to provide the working capital assistance businesses need. We are proud of our history and the collective strength that we’ve brought together – and we are ready to help.