Crestmark Closes Four Transactions Totaling $3.4 Million in the First Two Weeks of November

TROY, MICHIGAN (November 14, 2012) – A total of $3,400,000 in financial solutions was secured for four new Crestmark clients during the first two weeks of November.

  • A North Carolina leather upholstery company was provided a $1,250,000 Traditional Factoring facility on November 7. This premier supplier designs high-quality leather upholstered furniture sold at specialty shops and signature department stores nationwide. Funding will be used as working capital.
  • A $500,000 Ledgered Line of Credit facility was funded November 8 for an Arizona staffing company that provides engineers for equipment and systems testing. Funding will be used for working capital.
  • Also on November 8, Crestmark provided a $750,000 Traditional Factoring facility for an importer and wholesaler of moderate to high-priced footwear. Based out of California, the footwear is sold to specialty and large retailers across the country.
  • Crestmark funded a $900,000 Accounts Receivable Purchase facility November 9 for a California trucking company that hauls general freight and produce. Funding will be used for working capital.

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 and factoring. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with offices in Florida, Louisiana, Tennessee, New York, Alabama, California, Illinois, Ohio, Missouri, North Carolina, and Texas.