Crestmark Closes 12 Transactions Totaling More Than $20 Million in the Second Half of December 2016

TROY, Mich., (Jan. 5, 2016) – Crestmark secured a total of $20,125,000 in financial solutions for 12 new clients in the second half of December.

  • A $200,000 accounts receivable purchase facility was provided on Dec. 18 to a startup refrigerated carrier in Florida. The financing will be used for working capital purposes.
  • On Dec. 21, a $1,500,000 accounts receivable purchase facility was provided to a staffing company in California. The financing will be used for working capital purposes.
  • A $4,500,000 ledgered line of credit was provided on Dec. 23 to a government contractor in Virginia. The financing will be used to pay off an existing lender and for working capital purposes.
  • On Dec. 28, a $1,600,000 asset-based line of credit facility was provided to a commercial tire wholesaler in Indiana. The financing will be used for working capital purposes.
  • A $1,300,000 traditional factoring facility was provided on Dec. 28 to a men’s apparel wholesaler in New York. The financing will be used to pay off an existing lender and for working capital purposes.
  • On Dec. 29, a $4,000,000 asset-based line of credit facility was provided to a manufacturer of high quality wood and laminated products in Michigan. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $2,000,000 ledgered line of credit was provided on Dec. 30 to a maintenance supplier in the oil and gas industry in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
  • On Dec. 31, a $250,000 traditional factoring facility was provided to a women’s apparel manufacturer in Massachusetts. The financing will be used for working capital purposes.
  • A $3,000,000 ledgered line of credit was provided on Dec. 31 to an agriculture and construction equipment manufacturer in Nebraska. The financing will be used to pay off an existing lender and for working capital purposes.
  • On Dec. 31, a $375,000 traditional factoring facility was provided to a distributor of decorative home furnishings in Utah. The financing will be used for working capital purposes.
  • A $375,000 traditional factoring facility was provided on Dec. 31 to a furniture distributor in Utah. The financing will be used for working capital purposes.
  • On Dec. 31, a $1,025,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Florida. The financing will be used for acquisition purposes.