Crestmark Provides More Than $30.7 Million in Commercial Financing to 88 Businesses in the First Half of March

TROY, Mich., (March 20, 2019) – Crestmark secured a total of $8,075,000 in ABL financial solutions for 18 new clients; Crestmark Equipment Finance provided $4,041,482 in five new lease transactions; Crestmark Vendor Finance provided $5,520,502 in 66 new lease transactions; and the Government Guaranteed Lending Division provided $13,100,000 in financing for three new clients in the first half of March.

  • Crestmark’s Asset-Based Lending Divisions:
    • On March 1, a $1,000,000 accounts receivable purchase facility was provided to a trucking company in Florida. The financing will be used for working capital purposes.
    • A $250,000 accounts receivable purchase facility was provided to a trucking company in Florida on March 1. The financing will be used for working capital purposes.
    • On March 1, a $300,000 accounts receivable purchase facility was provided to a trucking company in Maryland. The financing will be used to pay off an existing lender and for working capital purposes.
    • A $350,000 accounts receivable purchase facility was provided to a trucking company in North Carolina on March 1. The financing will be used to pay off an existing lender and for working capital purposes.
    • On March 4, a $100,000 accounts receivable purchase facility was provided to a startup trucking company in Florida. The financing will be used for working capital purposes.
    • A $1,000,000 ledgered line of credit facility was provided to a manufacturer of custom metal products in North Carolina on March 5. The financing will be used to pay off an existing lender and for working capital purposes.
    • On March 6, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Texas. The financing will be used for working capital purposes.
    • A $75,000 accounts receivable purchase facility was provided to a trucking company in Washington on March 6. The financing will be used for working capital purposes.
    • On March 7, a $150,000 accounts receivable purchase facility was provided to a trucking company in Ohio. The financing will be used for working capital purposes.
    • A $100,000 accounts receivable purchase facility was provided to a trucking company in Illinois on March 7. The financing will be used for working capital purposes.
    • On March 8, a $150,000 accounts receivable purchase facility was provided to a trucking company in California. The financing will be used for working capital purposes.
    • A $150,000 accounts receivable purchase facility was provided to a trucking company in Missouri on March 8. The financing will be used to pay off an existing lender and for working capital purposes.
    • On March 8, a $150,000 accounts receivable purchase facility was provided to a trucking company in Pennsylvania. The financing will be used for working capital purposes.
    • A $450,000 accounts receivable purchase facility was provided to a trucking company in Pennsylvania on March 8. The financing will be used for working capital purposes.
    • On March 8, a $400,000 accounts receivable purchase facility was provided to a startup trucking company in Texas. The financing will be used for working capital purposes.
    • A $400,000 accounts receivable purchase facility was provided to a trucking brokerage in Louisiana on March 11. The financing will be used for working capital purposes.
    • On March 11, a $400,000 accounts receivable purchase facility was provided to a trucking company in Illinois. The financing will be used to pay off an existing lender and for working capital purposes.
    • A $2,500,000 ledgered line of credit facility was provided to a manufacturer of shipping insulation in New York on March 14. The financing will be used for working capital purposes.
  • Crestmark Equipment Finance:
    • On March 7, four new lease transactions totaling $3,502,660 were completed with an IT services provider in the southwestern U.S. The financing will be used for IT equipment.
    • A $538,822 new lease transaction was completed with a medical services provider in the southeastern U.S. on March 14. The financing will be used for capital equipment.
  • Crestmark Vendor Finance funded $5,520,502 in 66 transactions to 65 businesses in the first half of March.
  • The Government Guaranteed Lending Division:
    • On March 5, a $3,805,000 SBA 7(a) term loan facility was provided to a financial advisory firm in California. The financing will be used to pay off an existing lender.
    • A $4,175,000 term loan facility was provided to a financial advisory firm in Ohio on March 8. The financing will be used for acquisition and working capital purposes.
    • On March 14, a $5,120,000 term loan facility was provided to a solar energy developer in California. The financing will be used for the construction of a utility-scale solar farm.