Crestmark Closes Six Transactions Totaling More Than $11 Million in the Second Half of February 2016

TROY, Mich., (March 2, 2016) – Crestmark secured a total of $11,150,000 in financial solutions for six new clients in the second half of February.

  • A $400,000 accounts receivable purchase facility was provided on Feb. 18 to a trucking company in Texas. The financing will be used for working capital purposes.
  • On Feb. 18, a $2,000,000 traditional factoring facility was provided to a textile importer in Florida. The financing will be used for working capital purposes.
  • A $500,000 accounts receivable purchase facility was provided on Feb. 19 to a school bus and motor coach transportation company in Michigan. The financing will be used to pay off a previous lender and for working capital purposes.
  • On Feb. 25, a $500,000 traditional factoring facility was provided to a manufacturer of women’s knit apparel in New York. The financing will be used for working capital purposes.
  • A $750,000 ledgered line of credit facility was provided on Feb. 26 to a rope and chain sling manufacturer in Louisiana. The financing will be used to pay off a previous lender and for working capital purposes.
  • On Feb. 29, a $7,000,000 accounts receivable purchase facility was provided to a manufacturer of automotive acoustic systems in Michigan. The financing will be used for working capital purposes.