Crestmark Provides More Than $59.4 Million in Commercial Financing to 82 Businesses in the Second Half of December

TROY, Mich., (January 9, 2019) – Crestmark secured a total of $27,550,000 in ABL financial solutions for 11 new clients; Crestmark Equipment Finance provided $19,598,832 in eight new lease transactions; Crestmark Vendor Finance provided $4,738,826 in 59 new lease transactions; and the Government Guaranteed Lending Division provided $7,567,000 in financing for four new clients in the second half of December.

  • Crestmark’s asset-based lending division:
    • On Dec. 17, a $150,000 accounts receivable purchase facility was provided to a trucking company in Idaho. The financing will be used for working capital purposes.
    • A $150,000 accounts receivable purchase facility was provided to a trucking company in Ohio on Dec. 18. The financing will be used for working capital purposes.
    • On Dec. 19, a $2,000,000 accounts receivable purchase facility was provided to an advertising and marketing company in Ontario, Canada. The financing will be used for working capital purposes.
    • A $1,500,000 accounts receivable purchase facility was provided to a trucking company in California on Dec. 20. The financing will be used to pay off an existing lender and for working capital purposes.
    • On Dec. 20, a $750,000 accounts receivable purchase facility was provided to a trucking company in California. The financing will be used to pay off an existing lender and for working capital purposes.
    • A $100,000 accounts receivable purchase facility was provided to a trucking brokerage in California on Dec. 20. The financing will be used to pay off an existing lender and for working capital purposes.
    • On Dec. 21, a $7,500,000 ledgered line of credit facility was provided to a manufacturer and supplier of direct mail services in Pennsylvania. The financing will be used to pay off an existing lender and for working capital purposes.
    • A $4,250,000 asset-based line of credit facility was provided to a manufacturer of paper products in Michigan on Dec. 24. The financing will be used to pay off an existing lender and for working capital purposes.
    • On Dec. 26, a $1,000,000 accounts receivable purchase facility was provided to a startup freight brokerage in Kentucky. 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 Dec. 26. The financing will be used for working capital purposes.
    • On Dec. 28, a $9,750,000 asset-based line of credit facility and a $250,000 term loan facility were provided to a wholesale distributor of medical supplies in Florida. The financing will be used to pay off an existing lender and for working capital purposes.
  • Crestmark Equipment Finance:
    • On Dec. 18, a $722,367 new lease transaction was completed with a software company in the western U.S. The financing will be used for IT equipment.
    • A $703,431 new lease transaction was completed with a software company in the western U.S. on Dec. 18. The financing will be used for IT equipment.
    • On Dec. 19, a $1,882,258 new lease transaction was completed with a fitness center in the midwestern U.S. The financing will be used for capital equipment.
    • A $625,121 new lease transaction was completed with office space management company in the northeastern U.S. on Dec. 20. The financing will be used for IT equipment.
    • On Dec. 20, a $4,781,864 new lease transaction was completed with a steel construction company in the southern U.S. The financing will be used for capital equipment.
    • A $1,771,536 new lease transaction was completed with a technology services company in the midwestern U.S. on Dec. 21. The financing will be used for IT equipment.
    • On Dec. 28, a $3,625,000 new lease transaction was completed with a solar energy provider in the western U.S. The financing will be used for capital equipment.
    • A $5,487,255 new lease transaction was completed with a real estate development company in the southwestern U.S. on Dec. 28. The financing will be used for capital equipment.
  • Crestmark Vendor Finance funded $4,738,826 in 59 transactions in the second half of December.
  • The Government Guaranteed Lending Division:
    • On Dec. 20, a $1,450,000 SBA 7(a) term loan facility was provided to commercial and home restoration services franchisee in South Carolina. The financing will be used for acquisition purposes.
    • On Dec. 21, a $4,192,000 term loan facility was provided to an investment advisory firm in Illinois. The financing will be used to pay off an existing lender.
    • A $150,000 SBA 7(a) term loan facility was provided to an investment advisory firm in Florida on Dec. 21. The financing will be used for working capital purposes.
    • On Dec. 28, a $1,775,000 term loan facility was provided to an investment advisory firm in California. The financing will be used for acquisition purposes.