Crestmark Closes Eight Transactions Totaling More Than $9 Million In the First Half of October

TROY, Mich., (Oct. 20, 2015) – Crestmark secured a total of $9,070,000 in financial solutions for eight new clients in the first half of October.

  • On Oct. 1, a $250,000 accounts receivable purchase facility was provided to a startup trucking company in California. The financing will be used for working capital purposes.
  • A $3,500,000 asset-based line of credit facility was provided on Oct. 5 to an importer/distributor of fruit juice, nuts and spices. The financing will be used to pay off a previous lender and for working capital purposes.
  • A $300,000 SBA 7(a) term loan facility was provided on Oct. 5 to an independent insurance agency in New York. The financing will be used for acquisition purposes.
  • On Oct. 7, a $500,000 accounts receivable purchase facility was provided to a startup trucking company in Illinois. The financing will be used for working capital purposes.
  • On Oct. 7, a $500,000 accounts receivable purchase facility was provided to a trucking company in Illinois. The financing will be used for working capital purposes.
  • A $3,100,000 SBA 7(a) term loan facility was provided on Oct. 8 to a hospitality management company in New Jersey. The financing will be used to pay off a previous lender.
  • A $420,000 SBA 7(a) term loan facility was provided on Oct. 9 to an independent insurance agency in Michigan. The financing will be used for acquisition purposes.
  • On Oct. 16, a $500,000 accounts receivable purchase facility was provided to a startup trucking company in Georgia. The financing will be used for working capital purposes.