Crestmark Closes 14 Transactions Totaling More Than $8 Million in the Second Half of May 2016

TROY, Mich., (June 2, 2016) – Crestmark secured a total of $8,775,000 in financial solutions for 14 new clients in the second half of May.

  • A $500,000 accounts receivable purchase facility was provided on May 19 to a parts supplier for the oil and gas industry in Texas. The financing will be used for working capital purposes.
  • On May 19, a $200,000 accounts receivable purchase facility was provided to a trucking company in Texas. The financing will be used for working capital purposes.
  • A $1,500,000 accounts receivable purchase facility was provided on May 19 to a trucking company in Alabama. The financing will be used for working capital purposes.
  • On May 20, a $1,000,000 traditional factoring facility was provided to a mattress manufacturer in Georgia. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $250,000 traditional factoring facility was provided on May 20 to a men’s footwear wholesaler in Florida. The financing will be used for working capital purposes.
  • On May 24, a $700,000 a ledgered line of credit facility was provided to an industrial supply and label company in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $75,000 accounts receivable purchase facility was provided on May 24 to a trucking company in Pennsylvania. The financing will be used for working capital purposes.
  • On May 25, a $300,000 ledgered line of credit facility was provided to an aircraft repair company in Virginia. The financing will be used for working capital purposes.
  • A $500,000 accounts receivable purchase facility was provided on May 26 to a machinery and tooling manufacturer in Michigan. The financing will be used for working capital purposes.
  • On May 27, a $750,000 traditional factoring facility was provided to an importer and wholesaler of men’s and women’s footwear in New Jersey. The financing will be used for working capital purposes.
  • A $500,000 traditional factoring facility was provided on May 27 to a swimwear and active wear company in Florida. The financing will be used for working capital purposes.
  • On May 27, a $250,000 accounts receivable purchase facility was provided to a trucking company in Texas. The financing will be used to pay off a previous lender and for working capital purposes.
  • A $250,000 accounts receivable purchase facility was provided on May 27 to a start-up trucking company in Tennessee. The financing will be used for working capital purposes.
  • On May 31, a $2,000,000 ledgered line of credit facility was provided to an electronics manufacturer in Ohio. The financing will be used for working capital purposes.