Crestmark Closes Five Transactions Totaling More Than $7.5 Million in the Second Half of July 2016

TROY, Mich., (August 4, 2016) – Crestmark secured a total of $7,573,000 in financial solutions for five new clients in the second half of July.

  • A $400,000 accounts receivable purchase facility was provided on July 19 to a trucking company in California. The financing will be used for working capital purposes.
  • On July 19, an $873,000 term loan facility was provided to an independent insurance agency in Florida. The financing will be used for acquisition purposes.
  • A $250,000 accounts receivable purchase facility was provided on July 21 to a trucking company in Alabama. The financing will be used for working capital purposes.
  • On July 21, a $450,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Ohio. The financing will be used for working capital purposes.
  • A $5,600,000 asset-based line of credit facility was provided on July 22 to a label and packaging manufacturer in Ohio. The financing will be used to pay off a previous lender and for working capital purposes.