Daily News: January 3, 2013

Crestmark Closes 11 Transactions in Last Weeks of December 2012


During the last few weeks of December, Crestmark closed a total of $12.85 million in financial solutions were secured for 11 new clients. The transactions include:

  • On December 18, a $4 million ledgered line of credit facility was provided to a Texas company that provides various oilfield services. Funding will be used for amortization and provide additional working capital.

  • Crestmark provided a $1 million traditional factoring facility arrangement on December 19 for a Texas-based importer that sells apparel to large retailers across the county.

  • Also on December 19, a $350,000 accounts receivable purchase facility was provided to an Alabama-based healthcare staffing company. Funding will be used for amortization and additional working capital.

  • A $500,000 ledgered line of credit facility was funded December 21 for a Michigan screen-printing and embroidery company. The funding will provide working capital.

  • Also on December 21, a $500,000 accounts receivable purchase facility was arranged for a Louisiana-based company that focuses on costal monitoring and environmental and safety compliance training. Funding will provide amortization and additional working capital.

  • A $750,000 ledgered line of credit facility with advances in accounts receivable was secured for a California-based cheese company on December 24. The funding will provide additional working capital.

  • On December 26, a $2.5 million ledgered line of credit facility secured by accounts receivable and inventory was provided to a Michigan-based company that specializes in decorative gems and stone accents.

  • On December 27, a $1.75 million ledgered line of credit facility with advances in Accounts Receivable and inventory was provided to a California company that specializes in a wide variety of sweet to savory products.

  • Also on December 27, a $500,000 ledgered line of credit facility was arranged for a Florida-based physician staffing and recruitment company. Funding will provide additional working capital.

  • On December 28, an Illinois trucking company was funded a $500,000 accounts receivable purchase facility. Funding will provide working capital for this startup company that hauls loads east of the Mississippi.