Crestmark Closes 27 Transactions Totaling More Than $32 Million in the First Half of April

TROY, Mich., (April 19, 2018) – Crestmark secured a total of $32,071,000 in financial solutions for 27 new clients in the first half of April.

  • On April 2, a $100,000 accounts receivable purchase facility was provided to a trucking company in Texas. The financing will be used for working capital purposes.
  • A $75,000 accounts receivable purchase facility was provided to a trucking company in Maryland on April 3. The financing will be used for working capital purposes.
  • On April 3, a $4,400,000 insurance agency term loan facility was provided to an independent insurance agency in Florida. The financing will be used to pay off a previous lender and for acquisition purposes.
  • An $800,000 accounts receivable purchase facility was provided to a trucking company in Virginia on April 3. The financing will be used to pay off a previous lender and for working capital purposes.
  • On April 3, a $723,000 new lease transaction was completed with a medical device company in the southeastern U.S. The financing will be used for capital equipment.
  • A $1,699,000 new lease transaction was completed with a manufacturer of beauty products in the northeastern U.S. on April 3. The financing will be used for software.
  • On April 4, a $100,000 accounts receivable purchase facility was provided to a trucking company in Arkansas. The financing will be used for working capital purposes.
  • A $2,050,000 USDA Rural Energy for America Program (REAP) loan facility was provided to a solar developer in Vermont on April 5. The financing converts a power purchase agreement (PPA) into permanent debt for a 25-year term; and will be used to install a 3.3 MW DC utility solar farm, which has a utility company as the offtaker.
  • On April 5, a $215,000 SBA 7(a) term loan facility was provided to a fitness center in California. The financing will be used for acquisition and for working capital purposes.
  • A $300,000 accounts receivable purchase facility was provided to a trucking company in Florida on April 6. The financing will be used for working capital purposes.
  • On April 6, a $6,000,000 asset-based line of credit facility was provided to a distributor of tobacco products and smoking accessories in Ohio. The financing will be used to pay off a previous lender and for working capital purposes.
  • A $200,000 accounts receivable purchase facility was provided to a trucking company in California on April 6. The financing will be used for working capital purposes.
  • On April 6, a $100,000 accounts receivable purchase facility was provided to a trucking company in Texas. The financing will be used for working capital purposes.
  • A $450,000 accounts receivable purchase facility was provided to a trucking company in Michigan on April 6. The financing will be used to pay off an existing lender and for working capital purposes.
  • On April 9, a $350,000 accounts receivable purchase facility was provided to a trucking company in California. The financing will be used for working capital purposes.
  • A $100,000 accounts receivable purchase facility was provided to a trucking company in Florida on April 10. The financing will be used for working capital purposes.
  • On April 10, a $914,000 new lease transaction was completed with a food manufacturer in the southeastern U.S. The financing will be used for capital equipment.
  • A $615,000 new lease transaction was completed with a health care service provider in the western U.S. on April 10. The financing will be used for medical equipment.
  • On April 11, a $605,000 new lease transaction was completed with a software and data services company in the northeastern U.S. The financing will be used for technology and capital equipment.
  • A $4,250,000 USDA REAP loan facility was provided to a solar developer in South Carolina on April 11. The financing converts a 15-year PPA into permanent debt for a 25-year term; and will be used to install a 14.2 MW DC utility solar farm, which has a utility company as the offtaker.
  • On April 12, a $150,000 accounts receivable purchase facility was provided to a trucking company in California. The financing will be used for working capital purposes.
  • A $750,000 accounts receivable purchase facility was provided to a trucking company in Florida on April 12. The financing will be used for working capital purposes.
  • On April 12, a $75,000 accounts receivable purchase facility was provided to a trucking company in Alabama. The financing will be used for working capital purposes.
  • A $250,000 accounts receivable purchase facility was provided to a freight brokerage in Michigan on April 12. The financing will be used for working capital purposes.
  • On April 13, a $4,150,000 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 14 MW DC utility solar farm, which has a utility company as the offtaker.
  • A $650,000 traditional factoring facility was provided to a designer and distributor of men’s and women’s apparel in Alabama on April 13. The financing will be used for working capital purposes.
  • On April 13, a $2,000,000 ledgered line of credit facility was provided to an importer and wholesaler of spices and seasonings in Alabama. The financing will be used for working capital purposes.