Crestmark Closes Seven Transactions Totaling Nearly $4 Million

TROY, MICHIGAN (September 16, 2015) – Crestmark secured a total of $3,856,000 in financial solutions for seven new clients in the first half of September.

  • On Sept. 1, a $500,000 accounts receivable purchase facility was provided to a trucking company in Illinois. The financing will be used to pay off previous lender and for working capital purposes.
  • A $406,000 SBA 7(a) term loan facility was provided on Sept. 2 to an independent insurance agency in Washington. The financing will be used for a buyout.
  • On Sept. 4, a $1 million ledgered line of credit was provided for a trucking company in Michigan. The financing will be used to pay off a previous lender and for working capital purposes.
  • A $500,000 ledgered line of credit was provided on Sept. 4 to a freight broker who works with office furniture manufacturers in Michigan. The financing will be used to pay off a previous lender and for working capital purposes.
  • On Sept. 6, a $750,000 ledgered line of credit and term loan facility was provided to a manufacturer and distributor of diesel power and generator systems for the rail industry in New York. The financing will be used for working capital purposes.
  • A $500,000 accounts receivable purchase facility was provided on Sept. 10 to a startup cellular communication contractor in Texas. The financing will be used for working capital purposes.
  • On Sept. 11, a $200,000 accounts receivable purchase facility was provided to a trucking company hauling general and refrigerated freight in Washington. The financing will be used for working capital purposes.