Crestmark Closes Six Transactions Totaling More Than $5 Million In the Second Half of October

TROY, Mich., (Nov. 4, 2015) – Crestmark secured a total of $5,858,000 in financial solutions for six new clients in the second half of October.

  • On Oct. 20, a California-based designer and manufacturer of women’s dresses entered into a funds-as-collected traditional factoring facility with Crestmark.
  • A $1,150,000 accounts receivable purchase facility was provided on Oct. 26 to a security agency in West Virginia. The financing will be used for working capital purposes.
  • A $458,000 SBA 7(a) term loan facility was provided on Oct. 28 to an independent insurance agency in Texas. The financing will be used for acquisition purposes.
  • A $500,000 ledgered line of credit and term loan was provided on Oct. 29 to a wireless technology infrastructure servicing company in Florida. The financing will be used for pay off an existing lender and for working capital purposes.
  • On Oct. 30, a $1,000,000 asset-based line of credit facility was provided to a wireless speaker manufacturer in California. The financing will be used for working capital purposes.
  • On Oct. 30, a $2,750,000 ledgered line of credit was provided to a startup telecommunications company in New Jersey. The financing will be used for working capital purposes.