Crestmark Closes 14 Transactions Totaling More Than $12 Million in the First Half of August 2016

TROY, Mich., (Aug. 18, 2016) – Crestmark secured a total of $12,046,000 in financial solutions for 14 new clients in the first half of August.

  • A $1,000,000 accounts receivable purchase facility was provided on Aug. 1 to a startup trucking company in Florida. The financing will be used for working capital purposes.
  • On Aug. 2, a $2,000,000 accounts receivable purchase facility was provided to an oil and gas pipeline surveyor in Texas. The financing will be used for working capital purposes.
  • A $186,000 SBA 7(a) term loan facility was provided on Aug. 2 to an independent insurance agency in Georgia. The financing will be used for acquisition purposes.
  • On Aug. 5, a $250,000 traditional factoring facility was provided to a clothing and footwear wholesaler in New Jersey. The financing will be used for working capital purposes.
  • A $3,500,000 ledgered line of credit facility was provided on Aug. 5 to a thermostat distributor in California. The financing will be used to pay off a previous lender and for working capital purposes.
  • On Aug. 8, a $250,000 accounts receivable purchase facility was provided to a trucking company in Arkansas. The financing will be used for working capital purposes.
  • A $250,000 traditional factoring facility was provided on Aug. 9 to an electric appliance distributor in Pennsylvania. The financing will be used for working capital purposes.
  • On Aug. 9, a $960,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Pennsylvania. The financing will be used to pay off an existing lender and for acquisition purposes.
  • A $1,500,000 ledgered line of credit facility was provided on Aug. 9 to a packaged meat distributor in Illinois. The financing will be used to pay off an existing lender and for working capital purposes.
  • On Aug. 11, a $750,000 accounts receivable purchase facility was provided to a trucking company in Michigan. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $350,000 accounts receivable purchase facility was provided on Aug. 11 to a trucking company in California. The financing will be used for working capital purposes.
  • On Aug. 12, a $400,000 accounts receivable purchase facility was provided to a trucking company in Georgia. The financing will be used for working capital purposes.
  • A $250,000 traditional factoring facility was provided on Aug. 12 to a fashion apparel wholesaler in Florida. The financing will be used for working capital purposes.
  • On Aug. 12, a $400,000 accounts receivable purchase facility was provided to a trucking company in Michigan. The financing will be used for working capital purposes.