Crestmark closes Seven Transactions totaling $5.5 Million in the First Two Weeks of March
TROY, MICHIGAN (March 18, 2013) – Crestmark secured a total of $5,500,000 in financial solutions for seven new clients during the first two weeks of March.
• On March 4, Crestmark provided a $350,000 ledgered line of credit facility to an Indiana company that manufactures temperature controlled compliant packaging for the life sciences industry.
• Also on March 4, a $3,500,000 ledgered line of credit facility was provided to an international supply chain management company based in New York. The company provides compliance and security, logistic services and analysis. Financing will be used for amortization and working capital.
• A $150,000 accounts receivable purchase facility was provided on March 5 to a North Carolina-based subscription service company that provides periodicals to school and library systems. Financing will be used for working capital.
• On March 7, Crestmark provided a $500,000 accounts receivable purchase facility to a Florida company that designs and distributes garden planters to retailers nationwide. Financing will provide working capital.
• On March 8, a $500,000 accounts receivable purchase facility was provided to a Louisiana company that provides experienced certified welders and clerical personnel to oil, gas and related service companies. Financing will provide working capital.
• Crestmark also provided a $100,000 accounts receivable purchase facility to a Georgia-based start-up trucking broker on March 8. Financing will be used for working capital.
• On March 14, a $400,000 ledgered line of credit facility was provided to a small screw machine shop in Indiana. Financing will be used for 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, 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