Crestmark Provides More Than $79 Million in Commercial Financing to 87 Businesses in the Second Half of December

TROY, Mich., (Jan. 12, 2021) – Crestmark secured a total of $9,700,000 in ABL financial solutions for four new clients; Crestmark Equipment Finance provided $25,440,689 in ten new lease transactions; Crestmark Vendor Finance provided $5,792,233 in 65 new lease transactions; and the Government Guaranteed Lending group provided $38,165,000 in financing for eight new clients in the second half of December.

  • Crestmark’s Asset-Based Lending:
    • On Dec. 16, a $3,000,000 asset-based lending facility was provided to a blender and distributor of quality ink products in Michigan. The financing will be used to pay off an existing lender and for working capital purposes.
    • A $200,000 accounts receivable purchase facility was provided to a freight all kinds transportation in Michigan on Dec. 21. The financing will be used for working capital purposes.
    • On Dec. 23, a $4,000,000 asset-based lending facility was provided to an oilfield materials distributor in Louisiana. The financing will be used for acquisition purposes.
    • A $2,500,000 accounts receivable purchase facility was provided to a transportation company in California on Dec. 23. The financing will be used to pay off an existing lender and for working capital purposes.

 

  • Crestmark Equipment Finance:
    • On Dec. 16, a $675,395 new lease transaction was completed with a networking provider in the western U.S. The financing will be used for IT equipment.
    • A $4,454,400 new lease transaction was completed with an electrical equipment manufacturing company in the eastern U.S. on Dec. 16. The financing will be used for operational equipment.
    • On Dec. 17, a $1,660,930 new lease transaction was completed with an entertainment and hospitality company in the western U.S. The financing will be used for IT equipment.
    • A $1,065,323 new lease transaction was completed with a facility support services company in the western U.S. on Dec. 21. The financing will be used for capital equipment.
    • On Dec. 21, a $810,442 new lease transaction was completed with a business services and marketing company in the midwestern U.S. The financing will be used for IT equipment.
    • A $4,328,176 new lease transaction was completed with an automotive manufacturer in the southeastern U.S. on Dec. 23. The financing will be used for operational equipment.
    • On Dec. 23, a $3,963,582 new lease transaction was completed with an apparel company in the southeastern U.S. The financing will be used for capital equipment.
    • A $3,495,856 new lease transaction was completed with a global manufacturing company in the midwestern U.S. on Dec. 23. The financing will be used for IT equipment.
    • On Dec. 23, a $4,000,000 new lease transaction was completed with an outsourcing services provider in the western U.S. The financing will be used for communications equipment.
    • A $986,585 new lease transaction was completed with a window and door manufacturer in the northwestern U.S. on Dec. 30. The financing will be used for capital equipment.

 

  • Crestmark Vendor Finance funded $5,792,233 in 65 new transactions in the second half of December. Some highlights include:
    • An equipment finance transaction was completed with a medical office in the southeastern U.S. on Dec. 16. The financing will be used for essential equipment.
    • On Dec. 23, an equipment finance transaction was completed with a construction company in the western U.S. The financing will be used for operational equipment.
    • A new equipment finance transaction was completed with a manufacturing company in the western U.S. on Dec. 28. The financing will be used for essential equipment.
    • On Dec. 31, a new equipment finance transaction was completed with a medical imaging provider in the northwestern U.S. The financing will be used for medical equipment.

 

  • Government Guaranteed Lending:
    • On Dec. 18, a $2,794,300 USDA B&I term loan facility was provided to a solar developer in Missouri. The financing will be used to pay off an existing lender.
    • A $10,505,400 term loan facility was provided to a solar developer in New Hampshire on Dec. 22. The financing will be used for construction purposes.
    • On Dec. 28, a $1,770,000 term loan facility was provided to a wealth advisory firm in Pennsylvania. The financing will be used for acquisition purposes and to pay off an existing lender.
    • A $3,141,900 USDA B&I term loan facility was provided to a solar developer in Missouri on Dec. 29. The financing will be used to pay off an existing lender and for working capital purposes.
    • On Dec. 31, a $2,878,800 term loan facility was provided to a solar developer in North Carolina. The financing will be used for construction purposes.
    • A $3,419,600 term loan facility was provided to a solar developer in North Carolina on Dec. 31. The financing will be used for construction purposes.
    • On Dec. 31, a $11,400,000 term loan facility was provided to a solar developer in California. The financing will be used for working capital purposes.

A $2,255,000 term loan facility was provided to a financial advisory firm in North Carolina on Dec. 31. The financing will be used for acquisition and for working capital purposes.