Daily News: December 5, 2017

Crestmark Closes 13 Transactions Totaling $23.4MM


Crestmark secured a total of $23.416 million in financial solutions for 13 new clients in the second half of November. Outlined below are brief descriptions of the transactions:

  • $600,000  A/R purchase facility to a trucking company in Texas for working capital purposes
  • $4.0 million asset-based line of credit facility to a manufacturer and distributor of wireless towers in Indiana for working capital purposes
  • $1.15 million new lease transaction with a supermarket chain in the Western U.S. for kitchen equipment
  • $1.0 million new lease transaction  with a global supply chain company in the Midwestern U.S. for technology equipment
  • $150,000 A/R purchase facility to a trucking company in Pennsylvania for working capital purposes
  • $150,000 A/R purchase facility to a startup railroad tie distributor in Illinois for working capital purposes
  • $5.5 million ledgered line of credit facility to a telecommunications solutions provider in Colorado to pay off an existing lender and for working capital purposes
  • $4.5 million 84-month operating lease transaction with a solar developer in Pennsylvania to install a 1,690kW-DC solar farm, which has a New Jersey-based school district as the offtaker
  • $2.19 million term loan facility to a pharmaceutical manufacturer in Michigan for capital equipment
  • $2.0 million ledgered line of credit facility to an oil and gas transportation services company in Texas to pay off an existing lender and for working capital purposes
  • $1.23 million SBA 7(a) term loan facility to an independent insurance agency in Texas for acquisition and working capital purposes
  • $200,000 A/R purchase facility to a freight brokerage in Kansas to pay off an existing lender and for working capital purposes
  • $750,000 A/R purchase facility to a trucking company in Pennsylvania to pay off an existing lender and for working capital purposes