Crestmark Provides More Than $23.3 Million in Commercial Financing to 84 Businesses in the Second Half of October

TROY, Mich., (Nov. 06, 2020) – Crestmark secured a total of $11,018,800 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $3,759,627 in two new lease transactions; Crestmark Vendor Finance provided $6,249,333 in 73 new transactions; the Government Guaranteed Lending group provided $2,420,000 in financing for two new clients in the second half of October.

  • Crestmark’s Asset-Based Lending:
    • On Oct. 23, a $150,000 accounts receivable purchase facility was provided to a dry van transportation company in Illinois. The financing will be used for working capital purposes.
    • A $300,000 accounts receivable purchase facility was provided to a refrigerated freight all kinds transportation company in California on Oct. 23. The financing will be used for working capital purposes.
    • On Oct. 27, a $150,000 accounts receivable purchase facility was provided to a dry van freight all kinds transportation company in North Carolina. The financing will be used for working capital purposes.
    • A $300,000 accounts receivable purchase facility was provided to a freight broker in Ohio on Oct. 28. The financing will be used for working capital purposes.
    • On Oct. 29, a $1,500,000 ledgered line of credit facility was provided to a custom sign manufacturer in Texas. The financing will be used for working capital purposes.
    • $525,000 (CAD) and $225,000 (USD) accounts receivable purchase facilities were provided to a freight all kinds transportation company in Ontario, Canada on Oct. 30. The financing will be used for working capital purposes.
    • On Oct. 30, a $8,000,000 asset-based lending facility was provided to a baby gear manufacturer in Texas. The financing will be used to pay off an existing lender and for working capital purposes.

 

  • Crestmark Equipment Finance:
    • On Oct. 20, a $2,067,100 new lease transaction was completed with an expense management software company in the western U.S. The financing will be used for IT equipment.
    • A $1,692,527 new lease transaction was completed with an enterprise software services provider in the western U.S. on Oct. 23. The financing will be used for operational equipment.

 

  • Crestmark Vendor Finance funded $6,249,333 in 73 new transactions in the second half of October. Some highlights include:
    • An equipment finance transaction was completed with a transportation company in the southeastern U.S. on Oct. 19. The financing will be used for transportation equipment.
    • On Oct. 23, an equipment finance transaction was completed with a produce farm in the midwestern U.S. The financing will be used for essential equipment.
    • A new lease transaction was completed with a healthcare provider in the northeastern U.S. on Oct. 28. The financing will be used for essential equipment.
    • On Oct. 30, a new equipment finance transaction was completed with a construction company in the southwestern U.S. The financing will be used for operational equipment.

 

  • Government Guaranteed Lending:
    • On Oct. 23, an $1,220,000 term loan facility was provided to an investment advisory firm in Pennsylvania. The financing will be used for acquisition purposes.
    • A $1,200,000 SBA 7(a) term loan facility was provided to an investment advisory firm in Kansas on Oct. 29. The financing will be used for acquisition and for working capital purposes.