Crestmark Closes Seven Transactions Totaling $7 Million in the Second Half of May

 

TROY, MICHIGAN (June 2, 2015) – Crestmark secured a total of $7,000,000 in financial solutions for seven new clients in the second half of May.

  • A $650,000 SBA 7(a) term loan facility was provided on May 20 to an independent insurance agency in Michigan. The financing will be used to pay off a previous lender.
  • On May 22, a $1,250,000 accounts receivable purchase facility was provided to a commercial printer in California. The financing will be used for working capital purposes.
  • A $1,250,000 accounts receivable purchase facility was provided on May 26 to a wireless communication services provider in Texas. The financing will be used to pay off a previous lender and for working capital purposes.
  • On May 28, a $390,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Florida. The financing will be used for acquisition purposes.
  • A $310,000 SBA 7(a) term loan facility was provided on May 28 to an independent insurance agency in Texas. The financing will be used for acquisition purposes.
  • On May 29, a $250,000 accounts receivable purchase facility was provided to a trucking company in Kentucky. The financing will be used for working capital purposes.
  • A $2,900,000 SBA 7(a) term loan facility was provided on May 29 to a thermoforming company in Wisconsin. 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

###