Crestmark Closes Seven Transactions Totaling Over $10 Million in the First Half of March

 

TROY, MICHIGAN (March 20, 2015) – Crestmark secured a total of $10,095,000 in financial solutions for seven new clients in the first half of March.

  • A $7,000,000 asset-based line of credit was provided on March 2 to a textile wholesaler in California. The financing will be used for working capital purposes.
  • On March 3, a $750,000 traditional factoring facility was provided to a New York designer and manufacturer of men’s and women’s jeans.
  • A $125,000 accounts receivable purchase facility was provided on March 4 to a freight broker in Texas. The financing will be used for working capital purposes.
  • On March 4, a $400,000 accounts receivable purchase facility was provided to a trucking company in South Carolina. The financing will be used for working capital purposes.
  • A $320,000 SBA term loan facility was provided on March 5 to an independent insurance agency in Nevada. The financing will be used to pay off a previous lender.
  • On March 10, a $250,000 accounts receivable purchase facility was provided to a startup trucking company in Kentucky. The financing will be used for working capital purposes.
  • A $1,250,000 accounts receivable purchase facility was provided on March 12 to a freight broker in Alabama. The financing will be used to pay off a previous lender and for working capital purposes.

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

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