Crestmark Closes 22 Transactions Totaling More Than $26.6 Million in the Second Half of April

TROY, Mich., (May 2, 2018) – Crestmark secured a total of $26,627,000 in financial solutions for 22 new clients in the second half of April.

  • On April 16, a $100,000 accounts receivable purchase facility was provided to a trucking company in Georgia. The financing will be used for working capital purposes.
  • A $2,000,000 USDA Rural Energy for America Program (REAP) loan facility was provided to a solar developer in Texas on April 16. The financing converts a five-year Power Purchase Agreement (PPA) into permanent debt for a 20-year term; and will be used to install a 7 MW DC utility solar farm, which has a utility company as the offtaker.
  • On April 17, a $300,000 ledgered line of credit facility was provided to a distributor of audio visual equipment in Michigan. The financing will be used for working capital purposes.
  • A $1,000,000 accounts receivable purchase facility was provided to a staffing company for the oil and gas industry in Pennsylvania on April 17. The financing will be used for working capital purposes.
  • On April 17, a $300,000 term loan facility was provided to a machine manufacturer in Michigan. The financing will be used for working capital purposes.
  • A $250,000 accounts receivable purchase facility was provided to a trucking company in Illinois on April 19. The financing will be used for working capital purposes.
  • On April 19, a $300,000 accounts receivable purchase facility was provided to a distributor of motors and electromechanical components in Florida. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $300,000 accounts receivable purchase facility was provided to a trucking company in Kentucky on April 20. The financing will be used for working capital purposes.
  • On April 20, a $682,000 new lease transaction was completed with a transportation company in the midwestern U.S. The financing will be used for capital equipment.
  • A $1,651,000 new lease transaction was completed with a food manufacturer in the northeastern U.S. on April 23. The financing will be used for software.
  • On April 23, a $100,000 accounts receivable purchase facility was provided to a trucking company in Arkansas. The financing will be used to for working capital purposes.
  • A $150,000 accounts receivable purchase facility was provided to a startup trucking company in Illinois on April 23. The financing will be used for working capital purposes.
  • On April 24, a $500,000 accounts receivable purchase facility was provided to a producer and distributor of hardwood flooring in Florida. The financing will be used for working capital purposes.
  • A $600,000 accounts receivable purchase facility was provided to a trucking company in California on April 25. The financing will be used for working capital purposes.
  • On April 25, a $500,000 ledgered line of credit facility was provided to a manufacturer of planters and waste receptacles in Florida. The financing will be used for working capital purposes.
  • A $7,500,000 asset-based line of credit facility was provided to an IT staffing company in Kansas on April 26. The financing will be used to pay off an existing lender and for working capital purposes.
  • On April 27, a $500,000 accounts receivable purchase facility was provided to a trucking company in South Carolina. The financing will be used for working capital purposes.
  • A $600,000 accounts receivable purchase facility was provided to a freight brokerage in Florida on April 27. The financing will be used for working capital purposes.
  • On April 27, a $3,750,000 USDA REAP loan facility was provided to a solar developer in South Carolina. The financing converts a five-year 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 $100,000 accounts receivable purchase facility was provided to a trucking company in Wisconsin on April 30. The financing will be used to pay off an existing lender and for working capital purposes.
  • On April 30, a $2,000,000 ledgered line of credit facility was provided to a trucking company in Georgia. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $3,444,000 insurance agency term loan facility was provided to an independent insurance agency in Florida on April 30. The financing will be used to pay off an existing lender and for acquisition purposes.