Crestmark Closes Six Transactions Totaling More Than $21 Million in the Second Half of October
TROY, MICHIGAN (November 5, 2013) – Crestmark secured a total of $21,050,000 in financial solutions for six new clients in the second half of October.
• On October 18, a $4,000,000 asset-based lending facility was provided to a Maryland commercial printer.
• A $5,000,000 asset-based lending facility was also provided on October 18 to a Florida water pump manufacturer.
• Also on October 18, a $750,000 ledgered line of credit facility was provided to a New York secondary food distributor.
• On October 23, a $2,300,000 asset-based lending facility with advances on accounts receivable and an equipment and machinery term component was provided to a Texas wireless network solutions provider. Funding will be used to pay off the prior lender and provide working capital.
• A $5,000,000 ledgered line of credit facility was provided on October 24 to a Virginia fuel broker.
• On October 31, a $4,000,000 asset-based lending facility with advances on accounts receivable and inventory was provided to a Texas surfaces fabricator. Funding will be used to pay off the 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