Working Capital Solutions Provided in February 2012

PRESS RELEASE

For Immediate Release March 2, 2012
Contact: Lisa Beattie
Phone: 248-267-1639
Crestmark provided $12,880,000 in working capital facilities to 22 businesses in February 2012.

 

Crestmark’s Troy, MI office provided:
  • $600,000 ledgered line of credit to a Michigan producer of iron and steel casings
  • $750,000 ledgered line of credit equipment financing to a Michigan manufacturer of automotive and aerospace parts
  • $3,000,000 ledgered line of credit to a California shipping broker for a large manufacturer
  • $800,000 ledgered line of credit to a California manufacturer of sheet metal components
  • $400,000 ledgered line of credit to a Michigan provider of fabrications and machining
  • $500,000 ledgered line of credit to a Michigan start-up staffing company
Crestmark’s West Palm Beach, FL office provided:
  • $3,000,000 ledgered line of credit to a North Carolina manufacturer and distributor of medical supply products
  • $1,000,000 ledgered line of credit to Pennsylvania and Virginia manufacturers of custom wood products
  • $300,000 ledgered line of credit to a Massachusetts distributor of medical supplies
  • Funds as collected agreement to a North Carolina manufacturer of wood furniture
Crestmark’s New York, NY office provided:
  • Funds as collected agreement to a Canadian distributor of computer supplies
  • Funds as collected agreement to a New York designer of private label and branded apparel
  • Funds as collected agreement to a New York designer of branded apparel and fashion accessories
  • Funds as collected agreement to a New York designer of low-priced apparel
  • Funds as collected agreement to a New York designer and importer of footwear
Crestmark’s Baton Rouge, LA office provided:
  • $500,000 accounts receivable purchase facility to a North Carolina provider of technical support
Crestmark’s Franklin, TN office provided:
  • $130,000 accounts receivable purchase facility to a Mississippi hauler of furniture and house goods
  • $100,000 accounts receivable purchase facility to a Wyoming contract hauling company
  • $400,000 accounts receivable purchase facility to an Illinois hauler of perishable goods
  • $900,000 accounts receivable purchase facility to an Indiana trucking company
  • $300,000 accounts receivable purchase facility to an Indiana trucking company
  • $200,000 accounts receivable purchase facility to a Tennessee trucking company
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; full service office in New York city; sales offices located in Alabama, California, Florida, Georgia, Illinois, New Jersey, Missouri, North Carolina and Texas. www.crestmark.com