Crestmark Closes Three Transactions Totaling Almost $4 Million in the First Two Weeks of October

TROY, MICHIGAN (October 21, 2013) – Crestmark secured a total of $3,900,000 in financial solutions for three new clients in first two weeks of October.

  • On October 8, a $400,000 ledgered line of credit facility was provided to a North Carolina staffing company.
  • A $1,500,000 accounts receivable purchase facility was provided on October 9 to a Florida specialty foods manufacturer.
  • On October 11, a $2,000,000 asset-based lending facility with advances on inventory was provided to a Texas distributor of electrical equipment. Funding will be used to provide working capital and pay back shareholder investments.

Crestmark is a nationally known and respected FDIC-insured bank that provides innovative financial solutions for small- to medium-sized businesses. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, factoring and equipment financing. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with locations in California, Florida, Louisiana, Tennessee, New York, and Illinois; representatives in Alabama, Maryland, North Carolina, and Texas.