Crestmark Closes 11 Transactions Totaling More Than $11 Million in the First Half of January 2016

TROY, Mich., (Jan. 20, 2016) – Crestmark secured a total of $11,185,000 in financial solutions for 11 new clients in the first half of January.

  • A $500,000 ledgered line of credit was provided on Jan. 4 to a flatbed trucking company in Pennsylvania. The financing will be used for working capital purposes.
  • On Jan. 5, a $200,000 accounts receivable purchase facility was provided to a trucking company in Illinois. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $3,000,000 asset-based line of credit facility was provided on Jan. 6 to a barrier film manufacturer in Indiana. The financing will be used to pay off an existing lender and for working capital purposes.
  • On Jan. 7, a $3,750,000 asset-based line of credit facility was provided to a polyethylene foam manufacturer in Michigan. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $500,000 traditional factoring facility was provided on Jan. 8 to a furniture wholesaler in Pennsylvania. The financing will be used for working capital purposes.
  • On Jan. 8, an $835,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Alabama. The financing will be used for acquisition purposes.
  • A $750,000 ledgered line of credit was provided on Jan. 12 to a steel manufacturer in Michigan. The financing will be used for working capital purposes.
  • On Jan. 13, a $500,000 accounts receivable purchase facility was provided to a staffing agency in Texas. The financing will be used for working capital purposes.
  • A $400,000 accounts receivable purchase facility was provided on Jan. 14 to a startup trucking company in Illinois. The financing will be used to pay off an existing lender and for working capital purposes.
  • On Jan. 14, a $750,000 traditional factoring facility was provided to an olive oil producer in Florida. The financing will be used for working capital purposes.
  • A New Jersey-based sportswear manufacturer entered into a funds-as-collected traditional factoring facility with Crestmark on Jan. 15. The financing will be used for working capital purposes.