Crestmark Closes Five Transactions Totaling Over $9 Million in the Last Half of May

TROY, MICHIGAN (June 5, 2014) – Crestmark secured a total of $9,275,000 in financial solutions for five new clients in the second half of May.

  • On May 21, a $7,200,000 asset based lending facility was provided to a staffing company in Texas. The funds will be used to accommodate growth.
  • A $300,000 accounts receivable purchase facility was provided on May 21 to a start-up trucking company in Kentucky.
  • On May 22, a $775,000 ledgered line of credit was provided to an Illinois manufacturer of presentation and packaging materials.
  • A $500,000 ledgered line of credit was provided on May 29 to a provider of communications/cable installation services in Michigan.
  • On May 30, a $500,000 traditional factoring facility was provided to a New York importer of men’s sportswear and denim.

Crestmark is a nationally known and respected FDIC-insured bank that provides innovative financial solutions for small- to medium-sized businesses. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, factoring and machinery/equipment financing. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with locations in California, Florida, Louisiana, Tennessee, New York, and Illinois; representatives in Alabama, Indiana, Ohio, Maryland, North Carolina, and Texas.