Crestmark Closes 13 Transactions Totaling More Than $17.5 Million in the First Half of July 2016

TROY, Mich., (July 26, 2016) – Crestmark secured a total of $17,600,000 in financial solutions for 13 new clients in the first half of July.

  • A $4,400,000 SBA 7(a) term loan facility was provided on July 5 to an independent insurance agency in Florida. The financing will be used for acquisition purposes.
  • On July 6, a $250,000 SBA 7(a) term loan facility was provided to a hospitality management firm in Georgia. The financing will be used for working capital purposes.
  • A $50,000 accounts receivable purchase facility was provided on July 7 to a trucking company in California. The financing will be used to for working capital purposes.
  • On July 8, a $1,000,000 ledgered line of credit facility was provided to a nut and grain importer and exporter in Texas. The financing will be used for working capital purposes.
  • A $750,000 accounts receivable purchase facility was provided on July 8 to a trucking company in Tennessee. The financing will be used for working capital purposes.
  • On July 12, 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 $75,000 accounts receivable purchase facility was provided on July 13 to a trucking company in Illinois. The financing will be used for working capital purposes.
  • On July 14, a $2,500,000 accounts receivable purchase facility was provided to a digital recording company in California. The financing will be used to pay off a previous lender.
  • A $600,000 accounts receivable purchase facility was provided on July 14 to a trucking company in Ohio. The financing will be used for working capital purposes.
  • On July 15, a traditional factoring facility was provided to a women’s apparel wholesaler in California, using Crestmark’s Fast Track Financing. The financing will be used for working capital purposes.
  • A $200,000 ledgered line of credit facility was provided on July 15 to a staffing company in Ohio. The financing will be used for working capital purposes.
  • On July 15, a $1,925,000 ledgered line of credit facility was provided to a trucking company in Illinois. The financing will be used to pay off a previous lender and for working capital purposes.
  • A $5,500,000 asset-based line of credit facility was provided on July 15 to a staffing company in Michigan. The financing will be used to pay off a previous lender and for working capital purposes.