Crestmark Closes Four Transactions in January Totaling more than $7.5 Million

TROY, MICHIGAN (February 4, 2014) – Crestmark secured a total of $7,550,000 in financial solutions for four new clients in January.

  • On January 3, a $400,000 equipment term loan was provided to a Texas manufacturer of cable trays and support systems for the purchase of new equipment.
  • A $2,015,000 ledgered line of credit was provided on January 6 to a staffing company with outlets across the country.
  • On January 10, a $2,500,000 ledgered line of credit facility was provided to a Texas trucking company supporting oil and gas well services. The funds will be used to pay off prior lender and provide working capital.
  • A $2,500,000 traditional factoring facility was provided on January 30 to a designer and importer of small appliances in Florida.

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 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, Maryland, North Carolina, and Texas.