Working Capital Solutions Provided in August 2011

PRESS RELEASE
For Immediate Release August 30, 2011

Contact: Lisa Beattie
Phone: 248-267-1639

Crestmark provided $14,450,000 in working capital facilities to 19 new businesses in August 2011.
Crestmark’s Troy, MI office provided:

  • $800,000 working capital line of credit to a California medical supply company
  • $500,000 accounts receivable purchase facility to a Florida provider of mental health treatment services
  • $500,000 working capital line of credit to a Michigan manufacturer of military vehicles
  • $1,000,000 working capital line of credit to a California producer of sport training equipment

Crestmark’s West Palm Beach, FL office provided:

  • $750,000 accounts receivable purchase facility to a Florida start-up staffing company
  • $1,750,000 working capital line of credit to a Texas temporary staffing company
  • Funds as collected arrangement to a Florida importer of home furnishings
  • $4,000,000 asset based line of credit to a Florida healthcare staffing company
  • $650,000 accounts receivable purchase facility to a Michigan staffing company

Crestmark’s Baton Rouge, LA office provided:

  • $1,000,000 working capital line of credit to a Texas mechanical services provider
  • $500,000 accounts receivable purchase facility to an Alabama staffing contractor
  • $500,000 factoring facility to a Texas provider and installer of commercial floor covering
  • $200,000 factoring facility to a Louisiana retailer and wholesaler of tools
  • $950,000 factoring facility to a New Mexico provider of pipeline inspection and management services

Crestmark’s Nashville, TN office provided:

  • $200,000 accounts receivable purchase facility to a Kentucky freight brokerage
  • $400,000 accounts receivable purchase facility to a Florida truckload carrier
  • $750,000 accounts receivable purchase facility to an Ohio start-up trucking company

Crestmark’s Hoboken, NJ office provided:

  • Funds as collected agreement to a Canadian designer of intimate apparel
  • Funds as collected agreement to a New York designer of handbags and accessories

Crestmark is a nationally recognized provider of working capital solutions for small- to medium-sized businesses. Financing solutions include asset-based lending, accounts receivable financing and factoring. Headquartered in Troy, Michigan, with regional offices in Florida, Louisiana and Tennessee; sales offices located in Alabama, California, Florida, Georgia, Illinois, New Jersey, New York, Missouri, North Carolina and Texas. www.crestmark.com