Crestmark Closes Eleven Transactions Totaling Over $14 Million in the Month of January

TROY, MICHIGAN (February 10, 2015) – Crestmark secured a total of $14,070,000 in financial solutions for eleven new clients in the month of January.

• A $7,000,000 accounts receivable purchase facility was provided on January 8 to a Florida computer hardware and software supplier. The financing will be used to pay off a previous lender and for working capital purposes.

• On January 12, a $205,000 SBA term loan was provided to an independent insurance agency in Colorado. The financing will be used for acquisition purposes.

• A $250,000 traditional factoring facility was provided on January 13 to a women’s apparel designer and manufacturer in New York.

• On January 16, a $750,000 traditional factoring facility was provided to a New Jersey apparel manufacturer and distributor.

• A $500,000 accounts receivable purchase facility was provided on January 23 to a Texas oilfield waste management company. The financing will be used for working capital purposes.

• On January 23, a $3,350,000 asset-based line of credit was provided to a steel frame manufacturer in Indiana. The financing will be used for working capital purposes.

• A $650,000 SBA term loan facility was provided on January 26 to an independent insurance agency in California. The financing will be used for acquisition purposes.

• On January 26, a $365,000 SBA term loan facility was provided to an independent insurance agency in Maine. The financing will be used for debt refinancing.

• A $500,000 accounts receivable purchase facility was provided on January 28 to a Florida plastic product manufacturer. The financing will be used for working capital purposes.

• On January 28, a $250,000 traditional factoring facility was provided to a California designer and distributor of women’s footwear and accessories.

• A $250,000 accounts receivable purchase facility was provided on January 30 to an Illinois trucking company. The financing will be used for working capital 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