Crestmark Closes Eight Transactions Totaling over $14 Million in the First Half of November

Crestmark Closes Eight Transactions Totaling Over $14 Million in the First Half of November

TROY, MICHIGAN (November 20, 2014) – Crestmark secured a total of $14,166,188 in financial solutions for eight new clients in the first half of November.

  • A $2,500,000 accounts receivable purchase facility was provided on November 3 to a manufacturer of foam products in Rhode Island to pay off a previous lender.
  • On November 3, a $750,000 traditional factoring facility was provided to an importer and distributor of consumer goods in Texas for working capital purposes.
  • A $350,000 accounts receivable purchase facility was provided on November 4 to a Tennessee software and hardware company for working capital purposes.
  • On November 5, a $1,000,000 accounts receivable purchase facility was provided to a Florida wood products manufacturer.
  • A $66,188 term loan was provided on November 5 to an oilfield services provider in Texas for working capital purposes.
  • On November 10, a $5,000,000 asset-based line of credit was provided to a machinery and automotive parts manufacturer in Michigan to pay off a previous lender.
  • A $2,000,000 traditional factoring facility was provided on November 13 to a mattress manufacturer in Texas for working capital purposes.
  • On November 14, a $2,500,000 accounts receivable purchase facility was provided to an aerospace tooling manufacturer in California for working capital purposes.

Crestmark is a respected 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

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