Crestmark Closes 21 Transactions Totaling More Than $26.9 Million in the Second Half of March

TROY, Mich., (April 5, 2018) – Crestmark secured a total of $26,909,000 in financial solutions for 20 new clients in the second half of March.

  • On March 16, a $2,500,000 USDA Rural Energy for America Program (REAP) loan facility and a $1,250,000 USDA Business & Industry (B&I) loan facility were provided to a solar developer in South Carolina. The financing converts a 16-year power purchase agreement (PPA) into permanent debt for a 25-year term; and will be used to install a 14.8 MW DC utility solar farm, which has a utility company as the offtaker.
  • A $400,000 ledgered line of credit facility was provided to a staffing company in South Carolina on March 16. The financing will be used for working capital purposes.
  • On March 20, a $50,000 accounts receivable purchase facility was provided to a trucking company in California. The financing will be used for working capital purposes.
  • A $552,000 new lease transaction was completed with a fitness club in the midwestern U.S. on March 20. The financing will be used for fitness equipment.
  • On March 20, a $666,000 new lease transaction was completed with a manufacturing company in the western U.S. The financing will be used for machine tooling.
  • A $100,000 accounts receivable purchase facility was provided to a trucking company in Missouri on March 21. The financing will be used for working capital purposes.
  • On March 21, a $2,060,000 SBA 7(a) term loan facility was provided to a swim school franchise in Texas. The financing will be used for new construction and for working capital purposes.
  • A $150,000 accounts receivable purchase facility was provided to a startup trucking company in Illinois on March 26. The financing will be used for working capital purposes.
  • On March 26, a $2,050,000 USDA REAP loan facility was provided to a solar developer in Texas. The financing converts a five-year PPA into permanent debt for a 20-year term; and will be used to install a 6,828 kW DC solar farm, which has a utility company as the offtaker.
  • A $1,950,000 USDA REAP loan facility was provided to a solar developer in Texas on March 26. The financing converts a five-year PPA into permanent debt for a 20-year term; and will be used to install a 7,127 kW DC solar farm, which has a utility company as the offtaker.
  • On March 26, a $1,950,000 USDA REAP loan facility was provided to a solar developer in Texas. The financing converts a five-year PPA into permanent debt for a 20-year term; and will be used to install a 7,002 kW DC solar farm, which has a utility company as the offtaker.
  • A $4,450,000 USDA REAP loan facility was provided to a solar developer in Texas on March 26. The financing converts a five-year PPA into permanent debt for a 20-year term; and will be used to install a 14,005 kW DC solar farm, which has a utility company as the offtaker.
  • On March 27, a $3,000,000 ledgered line of credit facility was provided to an engineering services provider in Illinois. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $1,705,000 SBA 7(a) term loan facility was provided to a financial services franchise in Illinois on March 27. The financing will be used for acquisition purposes.
  • On March 28, a $455,000 new lease transaction was completed with a medical services provider in the western U.S. The financing will be used for laboratory testing equipment.
  • A $1,376,000 new lease transaction was completed with a food manufacturer in the southeastern U.S. on March 28. The financing will be used for capital equipment.
  • On March 28, a $685,000 new lease transaction was completed with an energy company in the western U.S. The financing will be used for construction equipment.
  • A $600,000 accounts receivable purchase facility was provided to a trucking company in Ohio on March 29. The financing will be used for working capital purposes.
  • On March 30, a $710,000 SBA 7(a) term loan facility was provided to a preschool franchise in Texas. The financing will be used for new construction and for working capital purposes.
  • A $250,000 accounts receivable purchase facility was provided to a trucking company in Oregon on March 30. The financing will be used for working capital purposes.