Crestmark Closes 13 Transactions Totaling More Than $7.5 Million in the Second Half of April 2016

TROY, Mich., (May 4, 2016) – Crestmark secured a total of $7,570,000 in financial solutions for 13 new clients in the second half of April.

  • A $550,000 accounts receivable purchase facility was provided on April 20 to a startup trucking company in Texas. The financing will be used for working capital purposes.
  • On April 21, a $1,500,000 ledgered line of credit facility was provided to a distributor of printed promotional products in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $100,000 accounts receivable purchase facility was provided on April 22 to a startup trucking company in California. The financing will be used for working capital purposes.
  • On April 22, a $250,000 traditional factoring facility was provided to a handbag manufacturer in California. The financing will be used for working capital purposes.
  • A $125,000 accounts receivable purchase facility was provided on April 25 to a trucking company in California. The financing will be used for working capital purposes.
  • On April 25, a $150,000 SBA 7(a) term loan facility was provided to an independent insurance agency in North Carolina. The financing will be used for acquisition purposes.
  • A $2,000,000 accounts receivable purchase facility was provided on April 25 to a trucking company in Illinois. The financing will be used to pay off an existing lender and for working capital purposes.
  • On April 26, a $1,250,000 ledgered line of credit facility was provided to a wheel and caster distributor in Michigan. The financing will be used to pay off an existing lender and for working capital purposes.
  • A men’s, women’s, and children’s apparel importer in California entered into a funds-as-collected traditional factoring facility with Crestmark on April 26. The financing will be used for working capital purposes.
  • On April 27, a $750,000 accounts receivable purchase facility was provided to a battery cabinet manufacturer in Wisconsin. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $300,000 accounts receivable purchase facility was provided on April 27 to a trucking company in Kentucky. The financing will be used to pay off a previous lender and for working capital purposes.
  • On April 28, a $345,000 SBA 7(a) term loan facility was provided to an independent insurance agency in California. The financing will be used for acquisition purposes.
  • A $250,000 accounts receivable purchase facility was provided on April 29 to a trucking company in California. The financing will be used for working capital purposes.