Crestmark Provides More Than $23.2 Million in Commercial Financing to 86 Businesses in the First Half of November

TROY, Mich., (November 21, 2018) – Crestmark secured a total of $3,550,000 in ABL financial solutions for six new clients; Crestmark Equipment Finance provided $12,095,622 in four new lease transactions; Crestmark Vendor Finance provided $6,700,000 in 75 new lease transactions; and the Government Guaranteed Lending Division provided $900,000 in financing for one new client in the first half of November.

  • Crestmark’s asset-based lending division:
    • On November 1, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Montana. The financing will be used for working capital purposes.
    • A $2,500,000 ledgered line of credit facility was provided to a heavy equipment company that services the oil and gas industry in Texas on November 2. The financing will be used to pay off an existing lender and for working capital purposes.
    • On November 5, a $300,000 accounts receivable purchase facility was provided to a trucking company in Ohio. The financing will be used for working capital purposes.
    • A $200,000 accounts receivable purchase facility was provided to a startup trucking company in Oklahoma on November 5. The financing will be used for working capital purposes.
    • On November 8, a $250,000 accounts receivable purchase facility was provided to a trucking company in Louisiana. The financing will be used for working capital purposes.
    • A $150,000 accounts receivable purchase facility was provided to trucking company in Illinois on November 13. The financing will be used for working capital purposes.
  • Crestmark Equipment Finance:
    • On November 1, a $2,505,967 new lease transaction was completed with a pharmaceutical company in the northeastern U.S. The financing will be used for software.
    • A $7,195,743 new lease transaction was completed with an oil and gas services company in the midwestern U.S. on November 1. The financing will be used for capital equipment.
    • On November 9, a $942,214 new lease transaction was completed with an oil and gas services company in the eastern U.S. The financing will be used for capital equipment.
    • A $1,451,698 new lease transaction was completed with a fortune 500 company in the midwestern U.S. on November 14. The financing will be used for IT equipment.
  • Crestmark Vendor Finance funded $6,700,000 in 75 transactions in the first half of November.
  • The Government Guaranteed Lending Division:
    • On November 9, a $900,000 term loan facility was provided to an investment advisory firm in New Hampshire. The financing will be used for acquisition purposes.