Working Capital Solutions Provided in May 2011

PRESS RELEASE
For Immediate Release June 9, 2011

Contact: Lisa Beattie
Phone: 248-267-1639
lbeattie@crestmark.com

Crestmark provided $13,750,000 in working capital facilities to 18 new businesses in May 2011.

Crestmark’s Troy, MI office provided:

  • $1,750,000 accounts receivable purchase facility to a California distributor of fuel and lubricants
  • $250,000 accounts receivable purchase facility to a Michigan metal fabricator
  • $1,500,000 working capital line of credit to a California IT staffing provider
  • $500,000 to a Michigan manufacturer of air pollution control devices
  • $250,000 accounts receivable purchase facility to an Ohio heating and cooling service provider
  • $3,000,000 working capital line of credit to a Missouri apparel designer
  • $500,000 working capital line of credit to Michigan tool manufacturer
  • $750,000 working capital line of credit to a Michigan medical staffing company
  • $600,000 working capital line of credit to a California machine tooling manufacturer

Crestmark’s West Palm Beach, FL office provided:

  • $500,000 accounts receivable purchase facility to a Florida staffing company

Crestmark’s Baton Rouge, LA office provided:

  • $300,000 working capital line of credit to an Alabama supplier to the aerospace and medical industries
  • $2,000,000 factoring facility to a Texas provider of IP solutions
  • $750,000 factoring facility to an Alabama tarp manufacturer

Crestmark’s Nashville, TN office provided:

  • $350,000 accounts receivable purchase facility to an Illinois start-up truck load carrier
  • $750,000 accounts receivable purchase facility to an Alabama refrigerated load hauler

Crestmark’s Hoboken, NJ office provided:

  • Funds as collected arrangement to a New York designer of pool accessories
  • Funds as collected arrangement to a New York developer of computing travel accessories
  • Funds as collected arrangement to a New York women’s footwear designer

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