Crestmark Provides More Than $30.1 Million in Commercial Financing to 66 Businesses in the First Half of October

TROY, Mich., (October 19, 2018) – Crestmark secured a total of $13,585,000 in ABL financial solutions for eight new clients; Crestmark Equipment Finance provided $13,412,118 in seven new lease transactions; and Crestmark Vendor Finance provided $3,151,862 in 51 new lease transactions in the first half of October.

  • Crestmark’s asset-based lending division:
    • On October 1, a $2,000,000 accounts receivable purchase facility was provided to a trucking company in Arizona. The financing will be used for working capital purposes.
    • A $1,000,000 ledgered line of credit facility was provided to a trucking company in California on October 3. The financing will be used to pay off an existing lender and for working capital purposes.
    • On October 4, a $400,000 accounts receivable purchase facility was provided to a startup trucking company in California. The financing will be used for working capital purposes.
    • A $4,000,000 asset-based line of credit facility was provided to a designer and distributor of women’s shoes in Missouri on October 4. The financing will be used to pay off an existing lender and for working capital purposes.
    • On October 4, a $4,000,000 accounts receivable purchase facility was provided to an oil and gas services trucking company in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
    • A $150,000 accounts receivable purchase facility was provided to a trucking company in Alabama on October 9. The financing will be used for working capital purposes.
    • On October 9, a $35,000 accounts receivable purchase facility was provided to a trucking company in Texas. The financing will be used for working capital purposes.
    • A $2,000,000 asset-based line of credit facility was provided to a metal processing company in Michigan on October 11. The financing will be used to pay off an existing lender and for working capital purposes.
  • Crestmark Equipment Finance:
    • On October 4, a $1,543,353 new lease transaction was completed with an oil and gas services company in the western U.S. The financing will be used for capital equipment.
    • A $1,393,640 new lease transaction was completed with an equipment company in the southwestern U.S. on October 5. The financing will be used for capital equipment.
    • On October 10, a $2,465,000 new lease transaction was completed with a telecommunications company in the northeastern U.S. The financing will be used for capital equipment.
    • A $1,311,192 new lease transaction was completed with a telecommunications company in the northeastern U.S. on October 10. The financing will be used for IT equipment.
    • On October 10, a $5,000,000 new lease transaction was completed with a healthcare services provider in the northwestern U.S. The financing will be used for medical equipment.
    • A $1,028,493 new lease transaction was completed with a healthcare services provider in the western U.S. on October 10. The financing will be used for medical equipment.
    • On October 15, a $670,440 new lease transaction was completed with a packaging company in the southern U.S. The financing will be used for capital equipment.
  • Crestmark Vendor Finance funded $3,151,862 in 51 transactions in the first half of October.