Crestmark Closes 11 Transactions Totaling More Than $14.5 Million in the First Half of March 2016

TROY, Mich., (March 17, 2016) – Crestmark secured a total of $14,593,000 in financial solutions for 11 new clients in the first half of March.

  • A $400,000 accounts receivable purchase facility was provided on March 1 to a startup trucking company in Michigan. The financing will be used for working capital purposes.
  • On March 1, a $2,000,000 ledgered line of credit facility was provided to a data management company in Illinois. The financing will be used to pay off a previous lender and for working capital purposes.
  • A $500,000 traditional factoring facility was provided on March 2 to a wholesaler of men’s and children’s apparel in New York. The financing will be used to pay off a previous lender and for working capital purposes.
  • On March 2, a $3,675,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Florida. The financing will be used for acquisition and expansion purposes.
  • A $2,000,000 ledgered line of credit facility was provided on March 4 to a manufacturer and distributor of diabetic testing supplies in Tennessee. The financing will be used for working capital purposes.
  • On March 4, a $1,000,000 traditional factoring facility was provided to a manufacturer of electric bicycles in Florida. The financing will be used for working capital purposes.
  • A $3,500,000 ledgered line of credit facility was provided on March 4 to a high-performance floor manufacturer in Washington. The financing will be used to pay off a previous lender and for working capital purposes.
  • On March 7, a $520,000 term loan facility was provided to an independent insurance agency in California. The financing will be used for acquisition purposes.
  • A $400,000 accounts receivable purchase facility was provided on March 9 to a startup trucking company in Illinois. The financing will be used to for working capital purposes.
  • On March 9, a $250,000 accounts receivable purchase facility was provided to a trucking company in British Columbia. The financing will be used for working capital purposes.
  • A $348,000 SBA 7(a) term loan facility was provided on March 9 to an independent insurance agency in Michigan. The financing will be used for acquisition purposes.