Crestmark Closes Six Transactions Totaling Over $7 Million in the First Half of May

 

TROY, MICHIGAN (May 19, 2015) – Crestmark secured a total of $7,065,000 in financial solutions for six new clients in the first half of May.

  • A $100,000 accounts receivable purchase facility was provided on May 4 to a trucking company in Kentucky. The financing will be used for working capital purposes.
  • On May 5, a $3,200,000 accounts receivable purchase facility was provided to an oilfield services provider in Oklahoma. The financing will be used to pay off a previous lender and for working capital purposes.
  • A $750,000 accounts receivable purchase facility was provided on May 6 to a freight broker in Michigan. The financing will be used for working capital purposes.
  • On May 8, a $1,015,000 SBA term loan facility was provided to an independent insurance agency in Idaho. The financing will be used for acquisition purposes.
  • A $1,000,000 accounts receivable purchase facility was provided on May 13 to a fuel distributor and transporter in South Carolina. The financing will be used for working capital purposes.
  • On May 14, a $1,000,000 accounts receivable purchase facility was provided to an IT staffing and consulting firm in Pennsylvania. 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