Crestmark Closes Nine Transactions Totaling More Than $7 Million in the Second Half of March 2016

TROY, Mich., (April 6, 2016) – Crestmark secured a total of $7,485,000 in financial solutions for nine new clients in the second half of March.

  • A $2,425,000 SBA 7(a) term loan facility was provided on March 16 to an independent insurance agency in California. The financing will be used for acquisition purposes.
  • On March 18, a men’s apparel importer in California entered into a funds-as-collected traditional factoring facility with Crestmark. The financing will be used for working capital purposes.
  • A $1,500,000 asset-based line of credit facility was provided on March 21 to a manufacturer of masonry veneer products in California. The financing will be used for working capital purposes.
  • On March 22, a $250,000 traditional factoring facility was provided to an apparel wholesaler in Florida. The financing will be used for working capital purposes.
  • A $100,000 accounts receivable purchase facility was provided on March 22 to a startup trucking company in Tennessee. The financing will be used for working capital purposes.
  • On March 23, a $300,000 accounts receivable purchase facility was provided to a trucking company in Texas. The financing will be used for working capital purposes.
  • A $1,000,000 ledgered line of credit facility was provided on March 25 to a manufacturer of medical devices in Colorado. The financing will be used to pay off a previous lender and for working capital purposes.
  • On March 30, a $1,150,000 ledgered line of credit and term loan facility was provided to a machinery and tooling manufacturer in Michigan. The financing will be used to pay off a previous lender and for working capital purposes.
  • A $760,000 SBA 7(a) term loan facility was provided on March 31 to an independent insurance agency in Washington. The financing will be used for acquisition purposes.