Crestmark Closes Nine Transactions Totaling Over $6 Million in the Second Half of September 2015

TROY, Mich., (Oct. 6, 2015) – Crestmark secured a total of $6,590,000 in financial solutions for nine new clients in the second half of September.

  • On Sept. 16, a $300,000 SBA 7(a) term loan facility was provided to an independent insurance agency in North Carolina. The financing will be used for acquisition purposes.
  • A $540,000 term loan was provided on Sept. 17 to an Illinois trucking company. The financing will be used to purchase new trailers.
  • A $150,000 accounts receivable purchase facility was provided on Sept. 18 to a trucking company in Pennsylvania. The financing will be used for working capital purposes.
  • On Sept. 22, a $250,000 accounts receivable purchase facility was provided to a trucking company in Kentucky. The financing will be used for working capital purposes.
  • On Sept. 29, a $250,000 accounts receivable purchase facility was provided to startup trucking company in Kentucky. The financing will be used for working capital purposes.
  • A $4,000,000 asset-based line of credit facility was provided on Sept. 30 to a distributor of consumable, health and beauty, and imported grocery products in California. The financing will be used to pay off a previous lender and for working capital purposes.
  • On Sept. 30, a footwear wholesaler in Florida entered into a funds-as-collected traditional factoring facility with Crestmark.
  • A $200,000 SBA 7(a) term loan facility was provided on Sept. 30 to an independent insurance agency in New York. The financing will be used to pay off a previous lender.
  • On Sept. 30, a $900,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Illinois. The financing will be used to pay off a previous lender and for acquisition purposes.