Crestmark Closes Seven Transactions Totaling $7 Million in the First Half of October

TROY, MICHIGAN (October 23, 2014) – Crestmark secured a total of $7,397,200 in financial solutions for seven new clients in the first half of October.

  • A $622,500 SBA term loan was provided to an independent insurance agent in Texas for acquisition purposes.
  • On October 6, a $2,000,000 accounts receivables purchase facility was provided to a book printing and binding service provider in Michigan for working capital purposes.
  • A $250,000 accounts receivable purchase facility was provided on October 6 to a Kentucky trucking company for working capital purposes.
  • On October 9, an accounts receivable purchase facility and term loan, totaling $525,000, was provided to an Ohio automotive supplier.
  • A $2,000,000 accounts receivables purchase facility was provided on October 9 to an importer and distributor of fresh flowers in Florida.
  • On October 10, a $630,000 SBA term loan was provided to a hotel franchisee in Florida for refinancing purposes.
  • A $1,370,000 SBA term loan was provided on October 10 to a hotel management company in Florida for refinancing purposes.

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 machinery/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 Colorado, Indiana, Maryland, Missouri, North Carolina, and Texas. www.crestmark.com