Crestmark, the Commercial Finance Division of MetaBank®, Provides More Than $65.7 Million in Commercial Financing to 42 Businesses in the First Half of June


TROY, Mich., (July 02, 2021)
– Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $53,300,000 in ABL/factoring financial solutions for 17 new clients; Crestmark Equipment Finance provided $964,688 in two new transactions; Crestmark Vendor Finance provided $2,600,586 in 21 new transactions; and the Government Guaranteed Lending group provided $8,840,000 in financing for two new clients in the first half of June.

Asset-Based Lending and Factoring financial solutions to be used for various purposes such as working capital and to pay off an existing lender included:

Accounts Receivable facilities:

  • $150,000 to a refrigerated trucking company in Texas.
  • $250,000 to a refrigerated trucking company in California.
  • $100,000 to a trucking company in Indiana.
  • $500,000 to a transportation company in Texas.
  • $400,000 to a refrigerated trucking company in Ohio.
  • $150,000 to a freight-all-kinds trucking company in North Carolina.
  • $1,000,000 to a freight-all-kinds trucking company in California.
  • $15,000,000 to a freight brokerage in Florida.
  • $400,000 to a freight-all-kinds trucking company in Florida.
  • $150,000 to a trucking company in Missouri.
  • $650,000 to a transportation company in Florida.
  • $150,000 to a freight-all-kinds trucking company in Illinois.
  • $500,000 to a transportation company in Texas.

Asset-Based Loan facilities:

  • $6,000,000 to a wholesale meat processor and distributor in California.
  • $20,000,000 to a cell phone manufacturing company in Florida.
  • $5,400,000 to a medical device manufacturer in South Dakota.

Ledgered Line of Credit facilities:

  • $2,500,000 to a freight services company in Tennessee.

Vendor Finance equipment finance transactions included, but were not limited to:

  • A medical company in the southern U.S. for medical equipment.
  • A trucking company in the southcentral U.S. for transportation equipment.
  • A crane company in the southcentral U.S. for transportation equipment.
  • A medical spa company in the midwestern U.S. for medical equipment.

Government Guaranteed Lending financial solutions, to be used for various purposes such as acquisition, working capital, and more included:

  • $440,000 SBA 7(a) loan to a printing services company in Florida.
  • $8,400,000 USDA Business & Industry loan to a hotel in Texas.