Crestmark Provides More Than $14.4 Million in Commercial Financing to 62 Businesses in the First Half of June

TROY, Mich., (June 21, 2019) – Crestmark secured a total of $5,550,000 in ABL financial solutions for six new clients; Crestmark Vendor Finance provided $4,088,323 in 53 new lease transactions; and the Government Guaranteed Lending Division provided $4,841,600 in financing for four new clients in the first half of June.

  • Crestmark’s Asset-Based Lending Divisions:
    • On June 4, a $500,000 term loan facility was provided to a media content and technology solutions provider in California. The financing will be used for acquisition purposes.
    • A $1,500,000 term loan facility was provided to a nonprofit organization that provides financial literacy tools in California on June 4. The financing will be used for working capital purposes.
    • On June 5, a $1,200,000 accounts receivable purchase facility was provided to a trucking company in Pennsylvania. The financing will be used for working capital purposes.
    • A $1,500,000 accounts receivable purchase facility was provided to a trucking company in California on June 7. The financing will be used for working capital purposes.
    • On June 10, a $750,000 accounts receivable purchase facility was provided to a beverage company in Florida. The financing will be used for working capital purposes.
    • A $100,000 accounts receivable purchase facility was provided to a startup trucking company in Indiana on June 14. The financing will be used for working capital purposes.
  • Crestmark Vendor Finance funded $4,088,323 in 53 new lease transactions to 52 businesses in the first half of June.
  • The Government Guaranteed Lending Division:
    • On June 4, a $795,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Washington. The financing will be used to pay off an existing lender, for acquisition and for working capital purposes.
    • An $870,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Nevada on June 11. The financing will be used for acquisition purposes.
    • On June 11, a $2,975,000 SBA 7(a) term loan facility was provided to an eyewear company in Florida. The financing will be used for acquisition and for working capital purposes.
    • A $201,600 term loan facility was provided to a solar developer in South Carolina on June 14. The financing will be used for acquisition purposes.