Daily News: January 5, 2018

Crestmark Closes 17 Transactions Worth $26.6MM


Crestmark secured a total of $26.605 million in financial solutions for 17 new clients in the second half of December. These included:

  • $2.565 million 120-month operating lease transaction to a New York-based solar developer. The financing will be used to install a 1,511kW-DC solar farm, which has a New York-based private school as the offtaker.
  • $200,000 A/R purchase facility to a trucking company in Kansas. The financing will be used for working capital purposes.
  • $750,000 A/R purchase facility to a trucking company in Michigan. The financing will be used to pay off an existing lender and for working capital purposes.
  • $500,000 A/R purchase facility to a staffing company in Michigan. The financing will be used for working capital purposes.
  • $1.75 million ledgered line of credit facility to a staffing company in Louisiana. The financing will be used for working capital purposes.
  • $150,000 A/R purchase facility to a startup trucking company in Tennessee. The financing will be used for working capital purposes.
  • $5 million SBA 7(a) term loan facility to a hotel management company in Ohio. The financing will be used for acquisition purposes.
  • $200,000 term loan facility to an educational services provider in Michigan. The financing will be used for working capital purposes.
  • $1.6 million new lease transaction a health club chain in the eastern U.S. The financing will be used for fitness equipment.
  • $800,000 ledgered line of credit facility ded to an automotive parts manufacturer in Ontario, Canada. The financing will be used for working capital purposes.
  • $250,000 A/R purchase facility to a trucking company in Arizona. The financing will be used for working capital purposes.
  • $6.3 million 125-month operating lease transaction a solar manufacturer in California. The financing will be used for 42 mobile solar generators.
  • $250,000 traditional factoring facility to a startup distributor of men’s shirts in New Jersey. The financing will be used for working capital purposes.
  • $2.8 million new lease transaction an automotive supplier in the midwestern U.S. The financing will be used for assembly line equipment.
  • $1.75 million new lease transaction a software company in the western U.S. The financing will be used for technology equipment.
  • $1.59 million ledgered line of credit facility to an aluminum die cast manufacturer in Michigan. The financing will be used for working capital purposes.
  • $150,000 SBA 7(a) term loan facility to a water, flood, and fire restoration franchise in California. The financing will be used for working capital purposes.