Crestmark Provides More Than $31 Million in Commercial Financing to 42 Businesses in the Second Half of March

TROY, Mich., (April 3, 2019) – Crestmark secured a total of $16,000,000 in ABL financial solutions for 10 new clients; Crestmark Equipment Finance provided $7,765,598 in five new lease transactions; Crestmark Vendor Finance provided $3,771,554 in 28 new lease transactions; and the Government Guaranteed Lending Division provided $3,510,000 in financing for one new client in the second half of March.

  • Crestmark’s Asset-Based Lending Divisions:
    • On March 18, a $150,000 accounts receivable purchase facility was provided to a trucking company in Florida. The financing will be used for working capital purposes.
    • A $2,500,000 accounts receivable purchase facility was provided to a produce wholesaler in Mississippi on March 20. The financing will be used for working capital purposes.
    • On March 22, a $1,000,000 ledgered line of credit facility was provided to an oilfield services provider in Texas. The financing will be used for working capital purposes.
    • A $150,000 accounts receivable purchase facility was provided to a trucking company in Tennessee on March 22. The financing will be used for working capital purposes.
    • On March 26, a $250,000 accounts receivable purchase facility was provided to a trucking company in Indiana. The financing will be used for working capital purposes.
    • A $7,500,000 asset-based line of credit facility was provided to a metal recycling company in Ohio on March 27. The financing will be used for working capital purposes.
    • On March 28, a $200,000 accounts receivable purchase facility was provided to a trucking company in Ohio. The financing will be used for working capital purposes.
    • A $3,000,000 ledgered line of credit facility was provided to a telecommunications industry services provider on March 29. The financing will be used for working capital purposes.
    • On March 29, a $500,000 accounts receivable purchase facility was provided to a trucking company in Tennessee. The financing will be used for working capital purposes.
    • A $750,000 accounts receivable purchase facility was provided to a trucking company in Texas on March 29. The financing will be used to pay off an existing lender and for working capital purposes.
  • Crestmark Equipment Finance:
    • On March 18, a $3,060,118 new lease transaction was completed with a medical services provider in the southeastern U.S. The financing will be used for capital equipment.
    • A $774,015 new lease transaction was completed with a fitness club in the northeastern U.S. on March 20. The financing will be used for capital equipment.
    • On March 20, a $1,003,145 new lease transaction was completed with a pet products retailer in the southeastern U.S. The financing will be used for capital equipment.
    • A $1,459,320 new lease transaction was completed with an insulated product manufacturer in the southern U.S. on March 20. The financing will be used for capital equipment.
    • On March 29, a $1,469,000 new lease transaction was completed with a staffing company in the northeastern U.S. The financing will be used for capital equipment.
  • Crestmark Vendor Finance funded $3,771,554 in 28 transactions to 26 businesses in the second half of March.
  • The Government Guaranteed Lending Division:
    • On March 18, a $3,510,000 SBA 7(a) term loan facility was provided to a hospitality management company in Louisiana. The financing will be used for acquisition purposes.