Crestmark Closes 12 Transactions Totaling Nearly $9 Million in the Second Half of June 2016

TROY, Mich., (July 8, 2016) – Crestmark secured a total of $8,995,000 in financial solutions for 12 new clients in the second half of June.

  • A $200,000 accounts receivable purchase facility was provided on June 17 to a trucking company in California. The financing will be used for working capital purposes.
  • On June 20, a $200,000 accounts receivable purchase facility was provided to a farm services company in Alabama. The financing will be used for working capital purposes.
  • On June 23, a $505,000 SBA 7(a) term loan facility was provided to an independent insurance agency in California. The financing will be used to pay off an existing lender and for acquisition purposes.
  • A $500,000 accounts receivable purchase facility was provided on June 24 to an electronics product manufacturer in South Carolina. The financing will be used for working capital purposes.
  • A $250,000 traditional factoring facility was provided on June 28 to an importer of men’s and women’s apparel in Delaware. The financing will be used for working capital purposes.
  • A $125,000 accounts receivable purchase facility was provided on June 29 to a trucking company in California. The financing will be used for working capital purposes.
  • On June 29, a $225,000 accounts receivable purchase facility was provided to a trucking company in California. The financing will be used for working capital purposes.
  • On June 29, a $600,000 ledgered line of credit facility was provided to a staffing company in Wyoming. The financing will be used for working capital purposes.
  • On June 30, a $690,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Kansas. The financing will be used for acquisition and working capital purposes.
  • A $500,000 ledgered line of credit facility was provided on June 30 to an oil and gas services company in Texas. The financing will be used to pay off an existing lender.
  • On June 30, a $4,000,000 asset-based line of credit was provided to a marine equipment manufacturer in Michigan. The financing will be used to pay off an existing lender and for working capital purposes.
  • On June 30, a $1,200,000 SBA 7(a) term loan facility was provided to an animal daycare provider in Michigan. The financing will be used for working capital purposes.