Crestmark Closes Seven Transactions Totaling More Than $8 Million in the Second Half of November 2015

TROY, Mich., (Dec. 2, 2015) – Crestmark secured a total of $8,005,000 in financial solutions for seven new clients in the second half of November.

  • On Nov. 17, a $1,000,000 accounts receivable purchase facility was provided to a start-up transportation broker in New York. The financing will be used for working capital purposes.
  • A $200,000 accounts receivable purchase facility was provided on Nov. 18 to an Illinois-based transportation company. The financing will be used for working capital purposes.
  • A $1,250,000 traditional factoring facility was provided on Nov. 18 to a women’s apparel manufacturer in New York. The financing will be used to pay off a previous lender and for working capital purposes.
  • On Nov. 18, a $1,745,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Texas. The financing will be used to pay off a previous lender.
  • On Nov. 19, a $300,000 accounts receivable purchase facility was provided to a freight broker in Utah. The financing will be used for working capital purposes.
  • A $510,000 SBA 7(a) term loan facility was provided on Nov. 23 to an independent insurance agency in Maine. The financing will be used to pay off a previous lender.
  • On Nov. 27, a $3,000,000 traditional factoring facility was provided to a wholesaler of wireless home surveillance devices in Missouri. The financing will be used for working capital purposes.