Daily News: March 6, 2018

Crestmark Closes 17 Transactions Totaling $17.7MM in H2/Feb


Crestmark secured a total of $17.7 million in financial solutions for 17 new clients in the second half of February.

Outlined below is a brief summary of the transactions:

  • $2 million A/R purchase facility to a trucking company in Oregon to pay off an existing lender and for working capital purposes
  • $1 million ledgered line of credit facility to a distributor of HVAC components in Massachusetts for working capital purposes
  • $500,000 A/R purchase facility to a trucking company in Tennessee for working capital purposes
  • $100,000 A/R purchase facility to a startup trucking company in Wyoming for working capital purposes
  • $2.9 million new lease transaction with a software company in the Western U.S. for IT equipment
  • $2.35 million USDA REAP loan facility to a solar developer in Texas for the acquisition of a 7.09MW solar array in Texas, which has an energy retailer as the off-taker.
  • $400,000 A/R purchase facility to a trucking company in Georgia for working capital purposes
  • $150,000 A/R purchase facility to a trucking company in Minnesota for working capital purposes
  • $1.1 million new lease transaction with an energy management company in the Midwestern U.S. for IT equipment
  • $4.8 million new lease transaction with an apparel retailer in the Eastern U.S. for robotic equipment
  • $250,000 traditional factoring facility to a distributor of men’s, women’s and children’s apparel in Florida for working capital purposes
  • $150,000 A/R purchase facility to a trucking company in New Jersey for working capital purposes
  • $100,000 A/R purchase facility to a trucking company in Nevada to pay off an existing lender and for working capital purposes
  • $300,000 A/R purchase facility to a trucking company in Alabama for working capital purposes
  • $100,000 A/R purchase facility to a trucking company in West Virginia for working capital purposes
  • $500,000 ledgered line of credit facility to a startup staffing company in Michigan for working capital purposes
  • $1 million A/R purchase facility to a trucking company in Wisconsin to pay off an existing lender and for working capital purposes