Crestmark Closes Three Transactions Totaling More Than $3 Million in the First Two Weeks of September

TROY, MICHIGAN (September 17, 2013) – Crestmark secured a total of $3,250,000 in financial solutions for three new clients in the first two weeks of September.

  • On September 4, a $250,000 accounts receivable purchase facility was provided to a California transportation company. Funding will be used to provide working capital.
  • A $2,500,000 traditional factoring facility was provided on September 10 to a Pennsylvania importer and wholesaler of watches.
  • On September 11, a $500,000 ledgered line of credit facility was provided to an Alabama information technology company. Funding will be used to pay off a prior lender and provide working capital.

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.