Crestmark Provides More Than $44.8 Million in Commercial Financing to 60 Businesses in the Second Half of November

TROY, Mich., (Dec. 8, 2020) – Crestmark secured a total of $1,800,000 in ABL financial solutions for five new clients; Crestmark Equipment Finance provided $11,790,009 in three new lease transactions; Crestmark Vendor Finance provided $4,592,541 in 49 new lease transactions; the Joint Ventures Division provided $21,490,800 in financing for one new client; the Government Guaranteed Lending group provided $5,150,000 in financing for two new clients in the second half of November.

  • Crestmark’s Asset-Based Lending:
    • On Nov. 19, a $50,000 accounts receivable purchase facility was provided to a transportation company in Indiana. The financing will be used for working capital purposes.
    • A $150,000 accounts receivable purchase facility was provided to a dry van transportation company in Florida on Nov. 23. The financing will be used for working capital purposes.
    • On Nov. 24, a $700,000 term loan facility was provided to a mechanical-systems parts manufacturer in Indiana. The financing will be used to pay off an existing lender.
    • A $300,000 accounts receivable purchase facility was provided to a freight all kinds trucking company in Ohio on Nov. 24. The financing will be used for working capital purposes.
    • On Nov. 25, a $600,000 accounts receivable purchase facility was provided to a transportation company in California. The financing will be used for working capital purposes.

 

  • Crestmark Equipment Finance:
    • On Nov. 19, a $1,240,537 new lease transaction was completed with a diagnostic imaging services company in the midwestern U.S. The financing will be used for operational equipment.
    • A $2,206,352 new lease transaction was completed with a transportation company in the southern U.S. on Nov. 20. The financing will be used for operational equipment.
    • On Nov. 23, a $8,343,120 new lease transaction was completed with a steel mill services company in the northeastern U.S. The financing will be used for capital equipment.

 

  • Crestmark Vendor Finance funded $4,592,541 in 49 new transactions in the second half of November. Some highlights include:
    • An equipment finance transaction was completed with a millwork company in the southern U.S. on Nov. 16. The financing will be used for essential equipment.
    • On Nov. 20, an equipment finance transaction was completed with a dry ice manufacturer in the southeastern U.S. The financing will be used for manufacturing equipment.
    • A new equipment finance transaction was completed with a trucking company in the midwestern U.S. on Nov. 24. The financing will be used for operational equipment.
    • On Nov. 30, a new lease transaction was completed with an asset recovery company in the southwestern U.S. The financing will be used for transportation equipment.

 

 

 

 

 

 

  • Crestmark’s Joint Ventures division funded a total of $21,490,800 in six operating lease transactions with a solar developer in Maryland in the second half of November. The financing will be used to install solar systems in Minnesota, ranging in size from 1,350 – 1,411 kW-DC, as part of a state community solar program.

 

  • Government Guaranteed Lending:
    • On Nov. 18, a $2,150,000 term loan facility was provided to a solar developer in California. The financing will be used for working capital purposes.
    • A $3,000,000 term loan facility was provided to a solar developer in California on Nov. 19. The financing will be used for working capital purposes.