Crestmark Closes 23 Transactions Totaling More Than $40.6 Million in the Second Half of May

TROY, Mich., (June 4, 2018) – Crestmark secured a total of $40,630,988 in financial solutions with 23 transactions for 21 new clients in the second half of May.

  • On May 16, a $500,000 ledgered line of credit facility was provided to a metal fabrication company in Arkansas. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $250,000 accounts receivable purchase facility was provided to a startup trucking company in Ontario, Canada on May 16. The financing will be used for working capital purposes.
  • On May 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 $1,310,000 term loan facility was provided to an independent wealth management firm in Colorado on May 16. The financing will be used to pay off an existing lender.
  • On May 17, a $150,000 accounts receivable purchase facility was provided to a trucking company in Texas. The financing will be used for working capital purposes.
  • A $321,000 insurance agency term loan facility was provided to an independent insurance agency in California on May 17. The financing will be used for acquisition purposes.
  • On May 17, a $6,879,000 USDA Business & Industry term loan facility was provided to a hospitality management company in Florida. The financing will be used for acquisition and working capital purposes.
  • A $4,000,000 asset-based line of credit facility was provided to a commercial printer in Florida on May 17. The financing will be used to pay off an existing lender and for working capital purposes.
  • On May 17, a $3,070,000 new lease transaction and a $665,550 new lease transaction were completed with a food supplier in the western U.S. The financing will be used for capital equipment.
  • A $300,000 accounts receivable purchase facility was provided to a trucking company in Iowa on May 18. The financing will be used to pay off an existing lender and for working capital purposes.
  • On May 21, a $250,000 traditional factoring facility was provided to a distributor of women’s apparel in Florida. The financing will be used for working capital purposes.
  • A $2,500,000 accounts receivable purchase facility was provided to a trucking company in California on May 22. The financing will be used for working capital purposes.
  • On May 22, a $4,136,000 new lease transaction was completed with a manufacturer in the midwestern U.S. The financing will be used for IT equipment.
  • An $8,888,000 term loan facility was provided to a financial services franchise in Connecticut on May 22. The financing will be used to pay off an existing lender.
  • On May 22, a $3,385,000 term loan facility was provided to an independent wealth management firm in California. The financing will be used to pay off an existing lender.
  • A $375,000 accounts receivable purchase facility was provided to a concrete manufacturer in Alabama on May 24. The financing will be used for working capital purposes.
  • On May 24, a $2,000,000 accounts receivable purchase facility and a $166,438 term loan facility were provided to an electronics manufacturer in Florida. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $785,000 new lease transaction was completed with a logistics supply chain company in the southeastern U.S. on May 25. The financing will be used for capital equipment.
  • On May 29, a $100,000 accounts receivable purchase facility was provided to a trucking company in Arizona. The financing will be used for working capital purposes.
  • A $400,000 accounts receivable purchase facility was provided to a trucking company in Texas on May 29. The financing will be used for working capital purposes.
  • On May 29, a $100,000 accounts receivable purchase facility was provided to a trucking company in Pennsylvania. The financing will be used for working capital purposes.