Crestmark Closes Eight Transactions Totaling More Than $10.5 Million in the Second Half of January 2016

TROY, Mich., (Feb. 3, 2016) – Crestmark secured a total of $10,715,000 in financial solutions for eight new clients in the second half of January.

  • A $250,000 accounts receivable purchase facility was provided on Jan. 19 to a startup freight brokerage in Michigan. The financing will be used for working capital purposes.
  • On Jan. 19, a $400,000 accounts receivable purchase facility was provided to a startup trucking company in California. The financing will be used for working capital purposes.
  • A $90,000 SBA 7(a) term loan facility was provided on Jan. 21 to a beer brewery startup in Michigan. The financing will be used for working capital purposes.
  • On Jan. 25, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Massachusetts. The financing will be used for working capital purposes.
  • A $2,500,000 ledgered line of credit and inventory facility was provided on Jan. 25 to a commercial and janitorial paper wholesaler in Utah. The financing will be used for working capital purposes.
  • On Jan. 25, a $1,000,000 accounts receivable purchase facility was provided to a transportation provider in Alabama. The financing will be used for equipment financing and working capital purposes.
  • A $325,000 SBA 7(a) term loan facility was provided on Jan. 27 to an independent insurance agency in Pennsylvania. The financing will be used for acquisition purposes.
  • On Jan. 28, a $6,000,000 asset-based line of credit facility was provided to a manufacturer of PVC fences and decks in Florida. The financing will be used to pay off a previous lender and for working capital purposes.