Crestmark Closes 20 Transactions Totaling More Than $20.5 Million in the Second Half of September 2016

TROY, Mich., (Oct. 6, 2016) – Crestmark secured a total of $20,570,500 in financial solutions for 20 new clients in the second half of September.

  • A $500,000 accounts receivable purchase facility was provided on Sept. 16 to a staffing company in Kansas. The financing will be used for working capital purposes.
  • On Sept. 16, a men’s apparel distributor in Florida entered into a funds-as-collected traditional factoring facility with Crestmark. The financing will be used for working capital purposes.
  • A $2,000,000 ledgered line of credit facility was provided on Sept. 16 to an oilfield chemical company in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
  • On Sept. 20, a $100,000 accounts receivable purchase facility was provided to a startup trucking company in Illinois. The financing will be used for working capital purposes.
  • A $750,000 accounts receivable purchase facility was provided on Sept. 21 to a startup trucking company in California. The financing will be used for working capital purposes.
  • On Sept. 23, a $250,000 traditional factoring facility was provided to an apparel manufacturer in Florida. The financing will be used for working capital purposes.
  • A distributor of home textiles in New Jersey entered into a funds-as-collected traditional factoring facility with Crestmark on Sept. 23. The financing will be used for working capital purposes.
  • On Sept. 26, a $500,000 accounts receivable purchase facility was provided to an orthopedic implant manufacturer in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $1,500,000 ledgered line of credit facility was provided on Sept. 26 to an oil transportation services company in Wyoming. The financing will be used for working capital purposes.
  • On Sept. 26, a $500,000 ledgered line of credit facility was provided to a precision sheet metal fabrication company in California. The financing will be used for working capital purposes.
  • A $2,000,000 ledgered line of credit facility was provided on Sept. 27 to an oil and gas service provider in Pennsylvania. The financing will be used to pay off an existing lender and for working capital purposes.
  • On Sept. 27, a $500,000 accounts receivable purchase facility was provided to a hospitality services company in Florida. The financing will be used for working capital purposes.
  • A $500,000 accounts receivable purchase facility was provided on Sept. 28 to a poultry processor and distributor in Georgia. The financing will be used for working capital purposes.
  • On Sept. 29, a $1,425,000 SBA 7(a) term loan facility was provided to an independent insurance agency in New York. The financing will be used for acquisition purposes.
  • A $5,000,000 ledgered line of credit facility was provided on Sept. 29 to an electronics manufacturer in Georgia. The financing will be used to pay off an existing lender and for working capital purposes.
  • On Sept. 29, a $370,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Texas. The financing will be used for acquisition purposes.
  • A $100,000 accounts receivable purchase facility was provided on Sept. 30 to a startup trucking company in Texas. The financing will be used for working capital purposes.
  • On Sept. 30, a $92,500 SBA 7(a) term loan facility was provided to an independent insurance agency in New Jersey. The financing will be used for working capital purposes.
  • A $4,200,000 SBA 7(a) term loan facility was provided on Sept. 30 to a swimming school and recreational center in Utah. The financing will be used for working capital purposes.
  • On Sept. 30, a $283,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Colorado. The financing will be used for acquisition purposes.