Crestmark Closes Seven Transactions Totaling More Than $11 Million in the First Half of February 2016

TROY, Mich., (Feb. 17, 2016) – Crestmark secured a total of $11,396,000 in financial solutions for seven new clients in the first half of February.

  • A $350,000 accounts receivable purchase facility was provided on Feb. 2 to a startup car hauling company in Arkansas. The financing will be used for working capital purposes.
  • On Feb. 2, a $2,924,000 SBA 7(a) term loan facility was provided to a hospitality management group in Connecticut. The financing will be used for acquisition and working capital purposes.
  • A $500,000 accounts receivable purchase facility was provided on Feb. 3 to an aggregate distributor in Texas. The financing will be used for working capital purposes.
  • On Feb. 3, a $4,372,000 SBA 7(a) term loan facility was provided to a hospitality management group in Florida. The financing will be used for acquisition and working capital purposes.
  • A $500,000 accounts receivable purchase facility was provided on Feb. 4 to a driver and transportation services company in Nevada. The financing will be used for working capital purposes.
  • On Feb. 4, a $2,000,000 ledgered line of credit facility was provided to a metal stamp manufacturer in Indiana. The financing will be used for working capital purposes.
  • A $750,000 traditional factoring facility was provided on Feb. 10 to a furniture manufacturer in North Carolina. The financing will be used to pay off a previous lender and for working capital purposes.