Crestmark Closes Nine Transactions Totaling Over $12.5 Million in the Second Half of April

 

TROY, MICHIGAN (May 5, 2015) – Crestmark secured a total of $12,690,000 in financial solutions for nine new clients in the second half of April.

  • A $5,000,000 asset-based line of credit was provided on April 21 to a distributor of pipeline products in Texas. The financing will be used to pay off a previous lender and for working capital purposes.
  • On April 22, a $400,000 accounts receivable purchase facility was provided to a metal fabricator in Nevada. The financing will be used for working capital purposes.
  • $2,000,000 and $1,500,000 accounts receivable purchase facilities were provided on April 24 to concrete mix suppliers in Missouri. The financing will be used to pay off previous lenders and for working capital purposes.
  • On April 24, a $500,000 accounts receivable purchase facility was provided to a trucking company in Kentucky. The financing will be used for working capital purposes.
  • A $300,000 traditional factoring facility was provided on April 30 to an apparel importer and wholesaler in Florida. The financing will be used for working capital purposes.
  • On April 30, a $300,000 accounts receivable purchase facility was provided to a salad dressing manufacturer in Canada. The financing will be used for working capital purposes.
  • A $2,000,000 asset-based line of credit was provided on April 30 to a greeting card designer and distributor in Massachusetts. The financing will be used for working capital purposes.
  • On April 30, a $690,000 SBA term loan facility was provided to a funeral home in Michigan. The financing will be used to pay off a previous lender.

Crestmark is an FDIC-insured bank that provides innovative financial solutions for businesses nationwide. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, term loans, factoring, machinery/equipment financing and equipment leasing. Crestmark has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, government contractors, apparel/footwear/furniture distribution/manufacturing, hospitality/hotels, insurance agencies, and technology hardware/software. Headquartered in Michigan, with additional offices in California, Florida, Louisiana, Tennessee, New York, and Illinois; and representatives nationwide.  www.crestmark.com

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