Crestmark Closes 22 Transactions Totaling More Than $38.1 Million in the Second Half of June

TROY, Mich., (July 3, 2018) – Crestmark secured a total of $38,110,791 in financial solutions with 22 transactions for 21 new clients in the second half of June.

  • On June 18, a $2,500,000 ledgered line of credit facility was provided to a digital production services provider in California. The financing will be used for working capital purposes.
  • A $1,810,000 term loan facility was provided to a financial services franchise in South Carolina on June 19. The financing will be used for acquisition purposes.
  • On June 20, a $937,965 new lease transaction was completed with a property management company in the eastern U.S. The financing will be used for capital equipment.
  • A $450,000 accounts receivable purchase facility was provided to a trucking company in Arkansas on June 20. The financing will be used to pay off an existing lender and for working capital purposes.
  • On June 21, a $200,000 accounts receivable purchase facility was provided to a trucking company in Arizona. The financing will be used for working capital purposes.
  • A $150,000 accounts receivable purchase facility was provided to a startup trucking company in Maryland on June 21. The financing will be used for working capital purposes.
  • On June 21, a $4,000,000 asset-based line of credit facility was provided to a wireless network service provider in Michigan. The financing will be used for working capital purposes.
  • A $2,500,000 ledgered line of credit facility was provided to a distributor of alloys to the oil and gas industry in Texas on June 22. The financing will be used to pay off an existing lender and for working capital purposes.
  • On June 22, two $602,448 new lease transactions were completed with a manufacturing company in the western U.S. The financing will be used for capital equipment.
  • A $3,171,000 USDA Rural Energy for America Program (REAP) loan facility was provided to a solar developer in Florida on June 22. The financing converts a Power Purchase Agreement (PPA) into permanent debt for a 25-year term; and will be used to install a 9.3 MW DC utility-scale solar farm, which has a municipality as the offtaker.
  • On June 22, a $400,000 accounts receivable purchase facility was provided to a startup trucking company in Missouri. The financing will be used for working capital purposes.
  • A $4,884,531 new lease transaction was completed with a commercial cleaning services provider in the eastern U.S. on June 22. The financing will be for capital equipment.
  • On June 25, a $4,200,000 new lease transaction was completed with a flooring manufacturer in the eastern U.S. The financing will be used for capital equipment.
  • A $539,327 new lease transaction was completed with an investment management company in the eastern U.S. on June 25. The financing will be used for IT equipment.
  • On June 26, a $100,000 accounts receivable purchase facility was provided to a startup trucking company in Georgia. The financing will be used for working capital purposes.
  • A $250,000 accounts receivable purchase facility was provided to a trucking company in Kentucky on June 27. The financing will be used for working capital purposes.
  • On June 27, an $800,000 accounts receivable purchase facility was provided to a trucking company in Ontario, Canada. The financing will be used for working capital purposes.
  • A $75,000 accounts receivable purchase facility was provided to a trucking company in Tennessee on June 28. The financing will be used for working capital purposes.
  • On June 28, a $2,465,000 term loan facility was provided to an independent wealth management firm in Texas. The financing will be used to pay off an existing lender.
  • A $3,000,000 ledgered line of credit facility was provided to a sheet metal fabricator in Wisconsin on June 28. The financing will be used to pay off an existing lender and for acquisition purposes.
  • On June 29, a $4,473,072 term loan facility was provided to an IT networking services provider in California. The financing will be used for capital equipment.