Crestmark Closes Nine Transactions Totaling More Than $9.6 Million the Month of September
TROY, MICHIGAN (October 1, 2012) – Crestmark is pleased to announce that for the month of September the company helped nine new clients with agreements totaling $9,650,000.
On September 6, Crestmark provided a $975,000 Accounts Receivable Purchase facility to a Missouri-based, trucking company specializing in time-critical, high-value shipments. The funding will be used for amortization and working capital.
Crestmark funded a $250,000 Accounts Receivable Purchase facility September 11 for a Miami transportation company that hauls a variety of freight across the United States.
Also on September 11, Crestmark funded a $1,500,000 Traditional Factoring facility for a New York footwear importer and wholesaler. The company sells to specialty and large retailers across the country.
On September 13, Crestmark provided a $300,000 Accounts Receivable Purchase facility to a Southern-based transportation company that hauls general freight within the southeast region. Funding will provide working capital for this start-up company.
September 14, Crestmark funded a $500,000 Accounts Receivable Purchase facility for a Michigan-based subcontractor who renovates projects for a variety of blue-chip companies.
Also on September 14, Crestmark provided a $2 million rediscount line for a non-profit Michigan corporation that assists with the purchase and installation of cost-effective lighting.
On September 26, Crestmark funded a $125,000 Accounts Receivable Purchase facility for a Southern-based trucking company. The start-up company hauls general freight east of Texas. Funding will provide working capital.
Also on September 26 Crestmark funded a $2 million Asset Based Lending facility to a North Carolina manufacturer of steel fabricated parts as well as specialty trailers. Funding will be used for amortization and working capital.
Crestmark funded a $2 million Ledgered Line of Credit on September 28 for a California designer, manufacturer and distributor of skateboarding shoes and apparel. Funding will be used for amortization and working capital.