Crestmark Closes Eight Transactions Totaling over $12 Million in the First Half of July

TROY, MICHIGAN (July 17, 2015) – Crestmark secured a total of $12,530,000 in financial solutions for eight new clients in the first half of July.

  • On June 30, a traditional factoring facility was provided to an urban/streetwear clothing importer in New Jersey. The financing will be used for working capital purposes.
  • A $1,450,000 term loan was provided on June 30th to an insurance agency in Texas. The financing will be used for acquisition purposes.
  • On July 1, $2,000,000 asset-based line of credit was provided to a non-recourse factoring company in New York. The financing will be used to finance new customers and enable growth.
  • On July 2, a $7,500,000 ledgered line of credit was provided to a professional leadership and shared services company in Texas. The financing will be used for working capital purposes.
  • A $430,000 term loan was provided on July 8th to an independent insurance agency in California. The financing will be used for acquisition purposes.
  • On July 10, 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 $150,000 accounts receivable purchase facility was provided on July 10th to a trucking company in Illinois. The financing will be used to pay off previous lender and working capital purposes.
  • On July 14, a $500,000 accounts receivable purchase facility was provided to a startup trucking company in Texas. The financing will be used for working capital purposes.