Crestmark Closes 18 Transactions Totaling More Than $46.9 Million in the First Half of August

TROY, Mich., (August 22, 2018) – Crestmark secured a total of $46,935,891 in financial solutions with 18 transactions for 14 new clients in the first half of August.

  • On August 3, a $75,000 accounts receivable purchase facility was provided to trucking brokerage in Alabama. The financing will be used for working capital purposes.
  • A $2,000,000 construction loan facility was provided to a solar developer in Massachusetts on August 3. The financing will be used to install a 2,244 KW DC solar farm in Vermont, which has a utility company as the solar purchaser, or “offtaker.” The construction loan facility will be repaid with Crestmark-provided sale-leaseback financing under a $4,124,472 120-month operating lease.
  • On August 6, a $100,000 accounts receivable purchase facility was provided to a trucking company in Connecticut. The financing will be used for working capital purposes.
  • A $750,000 accounts receivable purchase facility was provided to a food manufacturer and distributor in Florida on August 7. The financing will be used for working capital purposes.
  • On August 7, a $5,038,260 new lease transaction was completed with a civil construction company in the southern U.S. The financing will be used for capital equipment.
  • A $100,000 accounts receivable purchase facility was provided to a trucking company in Maryland on August 8. The financing will be used for working capital purposes.
  • On August 9, a $500,000 accounts receivable purchase facility was provided to a startup freight brokerage in Mississippi. The financing will be used for working capital purposes.
  • Five new lease transactions totaling $14,027,631 were completed with a manufacturer in the midwestern U.S. on August 9. The financing will be used for IT equipment.
  • On August 10, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Georgia. The financing will be used for working capital purposes.
  • A $200,000 accounts receivable purchase facility was provided to a startup freight brokerage in Illinois on August 10. The financing will be used for working capital purposes.
  • On August 13, a $300,000 accounts receivable purchase facility was provided to a trucking company in Iowa. The financing will be used for working capital purposes.
  • A $15,000,000 125-month operating lease transaction was completed with a solar manufacturer in California on August 15. The financing will be used for 100 mobile solar generators.
  • On August 15, a $7,500,000 term loan facility was provided to a solar energy provider in Minnesota. The financing will be used to pay off an existing lender. This term loan facility will be repaid with a Crestmark USDA loan facility upon final allocation of USDA Business & Industry funds from the USDA’s national office.
  • A $1,195,000 term loan facility was provided to an independent wealth management firm in Pennsylvania on August 15. The financing will be used to pay off an existing lender.