Working Capital Solutions Provided in June 2011

PRESS RELEASE
For Immediate Release July 1, 2011

Contact: Lisa Beattie
Phone: 248-267-1639

Crestmark provided $19,850,000 in working capital facilities to 20 new businesses in June 2011.

Crestmark’s Troy, MI office provided:

  • $750,000 working capital line of credit to an Ohio service provider to automotive suppliers
  • $2,000,000 working capital line of credit to an Ohio manufacturer of confections
  • $1,000,000 working capital line of credit to a Michigan IT consulting firm
  • $1,000,000 working capital line of credit to a California distributor of raw and finished goods
  • $350,000 accounts receivable purchase facility to a Michigan IT consulting firm
  • $500,000 working capital line of credit to a New York phone services provider
  • $4,500,000 working capital line of credit to an Ohio automotive supplier

Crestmark’s West Palm Beach, FL office provided:

  • $500,000 accounts receivable purchase facility to a Georgia start-up staffing company
  • Funds as collected arrangement to a Florida women’s apparel company
  • $2,000,000 working capital line of credit to a Florida manufacturer of security equipment
  • $500,000 working capital line of credit to a Michigan IT staffing company
  • Funds as collected arrangement to a North Carolina furniture distributor
  • $1,250,000 working capital line of credit to an Illinois staffing and consulting company

Crestmark’s Baton Rouge, LA office provided:

  • $1,000,000 working capital line of credit to an Arizona staffing company
  • $2,000,000 factoring facility to a Louisiana chemical company

Crestmark’s Nashville, TN office provided:

  • $750,000 accounts receivable purchase facility to an Illinois trucking company
  • $1,500,000 working capital line of credit to a Pennsylvania refrigerated trucking company
  • $250,000 accounts receivable purchase facility to an Indiana freight broker

Crestmark’s Hoboken, NJ office provided:

  • Funds as collected arrangement to a New York designer of women’s apparel
  • Funds as collected arrangement to a New York company that designs and sells women’s apparel

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, Ohio, Missouri, North Carolina and Texas. www.crestmark.com