Crestmark Closes 12 Transactions Totaling More Than $22 Million in the Second Half of October 2016

TROY, Mich., (Nov. 3, 2016) – Crestmark secured a total of $22,415,000 in financial solutions for 12 new clients in the second half of October.

  • On Oct. 15, a $2,500,000 new lease transaction was completed with a communications provider in the West.
  • A $400,000 ledgered line of credit facility was provided on Oct. 18 to a tire wholesaler in Nevada. The financing will be used for working capital purposes.
  • On Oct. 18, a $250,000 accounts receivable purchase facility was provided to a trucking company in Texas. The financing will be used for working capital purposes.
  • A $7,600,000 new lease transaction was completed on Oct. 21 with an automotive manufacturer in the Midwest.
  • On Oct. 24, a $3,900,000 new lease transaction was completed with a metal product manufacturer in the Midwest.
  • A $400,000 ledgered line of credit facility was provided on Oct. 24 to a freight broker in Mississippi. The financing will be used to pay off an existing lender and for working capital purposes.
  • On Oct. 24, a $100,000 accounts receivable purchase facility was provided to a trucking company in California. The financing will be used for working capital purposes.
  • A $250,000 traditional factoring facility was provided on Oct. 27 to an apparel distributor in Florida. The financing will be used for working capital purposes.
  • On Oct. 28, a $500,000 accounts receivable purchase facility was provided to a trucking company in Canada. The financing will be used for working capital purposes.
  • A $150,000 accounts receivable purchase facility was provided on Oct. 28 to a trucking company in Oregon. The financing will be used for working capital purposes.
  • On Oct. 31, a $3,365,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Georgia. The financing will be used for acquisition and for working capital purposes.
  • A $3,000,000 ledgered line of credit facility was provided on Oct. 31 to an aircraft parts distributor in Texas. The financing will be used for working capital purposes.