Crestmark Closes Twelve Transactions Totaling Over $13 Million to Finish the Month of February

 

TROY, MICHIGAN (March 5, 2015) – Crestmark secured a total of $13,930,000 in financial solutions for twelve new clients to finish the month of February.

  • A $2,700,000 SBA term loan facility was provided on February 9 to a hotel management company in Florida. The financing will be used for acquisition and renovation purposes.
  • On February 10, a $1,200,000 SBA term loan facility was provided to an independent insurance agency in Massachusetts. The financing will be used for acquisition purposes.
  • A $480,000 SBA term loan facility was provided on February 17 to an independent insurance agency in Illinois. The financing will be used for acquisition purposes.
  • On February 19, a $750,000 accounts receivable purchase facility was provided to a manufacturer of furniture and door frames in California. The financing will be for working capital purposes.
  • A $1,650,000 accounts receivable purchase and equipment term loan facility was provided on February 20 to a gear manufacturer in Wisconsin. The financing will be used to pay off a previous lender and for working capital purposes.
  • On February 20, a $750,000 traditional factoring facility was provided to a New York manufacturer and distributor men’s and boy’s apparel.
  • A $2,000,000 accounts receivable purchase facility was provided on February 23 to an Illinois importer and distributor of fasteners. The financing will be used to pay off a previous lender and for working capital purposes.
  • On February 23, a $1,000,000 traditional factoring facility was provided to a Florida wholesaler of manufactured diamonds. The financing will be used for working capital purposes.
  • A $500,000 accounts receivable purchase facility was provided on February 23 to staffing agency in Florida. The financing will be used for working capital purposes.
  • On February 24, a $1,400,000 accounts receivable purchase facility was provided to an Oklahoma oilfield services provider. The financing will be used for working capital and acquisition purposes.
  • A $750,000 accounts receivable purchase facility was provided on February 25 to a North Carolina supplier of ingredients to the pet food industry. The financing will be used for working capital purposes.
  • On February 26, a $750,000 traditional factoring facility was provided to a women’s active wear designer and distributor in California. The financing will be used 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

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