Crestmark Closes Eight Transactions Totaling Over $11 Million in the Second Half of November

TROY, MICHIGAN (December 8, 2014) – Crestmark secured a total of $11,645,000 in financial solutions for eight new clients in the second half of November.

  • A $1,000,000 accounts receivable purchase facility was provided on November 17 to a Texas provider of various oilfield services including mobile containment, staffing and equipment cleaning.
  • On November 19, a $500,000 accounts receivable purchase facility was provided to a healthcare IT consulting firm in Florida. The financing will be used for working capital purposes.
  • A $750,000 accounts receivable purchase facility was provided on November 20 to a Michigan printing services provider, and will be used for working capital purposes.
  • On November 20, a $500,000 traditional factoring facility was provided to a Missouri manufacturer of yard and farm utility products.
  • A $5,000,000 asset-based line of credit was provided on November 21 to a California suspension parts manufacturer. The financing was used to pay off a previous lender and will be used for working capital purposes.
  • On November 24, a $1,750,000 asset-based line of credit and term loan facility was provided to an equipment manufacturer in Arizona. The financing was used to pay off a previous lender and will be used for working capital purposes.
  • A $1,500,000 accounts receivable purchase facility was provided on November 25 to a retail-packaging manufacturer in Massachusetts, and will be used for working capital purposes.
  • On November 25, a $645,000 SBA term loan was provided to an independent insurance agency in Texas and will be used for acquisition purposes.

Crestmark is an FDIC-insured bank that provides innovative financial solutions for businesses nationwide. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, term loans, factoring, machinery/equipment financing and equipment leasing. Crestmark has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, government contractors, apparel/footwear/furniture distribution/manufacturing, hospitality/hotels, insurance agencies, and technology hardware/software. Headquartered in Michigan, with additional offices in California, Florida, Louisiana, Tennessee, New York, and Illinois; and representatives nationwide.  www.crestmark.com

###