Crestmark transactions total more than $3 million during the second half of November

TROY, MICHIGAN (December 3, 2012) – During the second half of November Crestmark secured financial solutions for four new clients totaling $3,052,000. Here is the breakdown:

  • On November 13 a $1,152,000 Term Loan facility was funded for a New York manufacturer of disposable plastic products for the food industry. Funding will be used for working capital.
  • A $250,000 Traditional Factoring facility was funded November 20 for a New York start-up that distributes handbags and fashion accessories to large retailers across the country.
  • On November 21 Crestmark funded a $150,000 Accounts Receivable Purchase facility for a small trucking company based in Kentucky. Funding will be used for amortization and working capital.
  • November 30, Crestmark funded a $1,500,000 Ledgered Line of Credit facility for a California-based product development, distribution and marketing company that specializes in therapeutic products for children.

Crestmark is a nationally known and respected FDIC-insured bank that provides innovative financial solutions for small- to medium-sized businesses. Financing solutions include asset-based lending, accounts receivable financing, lines of credit and factoring. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with offices in Florida, Louisiana, Tennessee, New York, Alabama, California, Illinois, Ohio, Missouri, North Carolina, and Texas.