Crestmark secured a total of $26.9 million in financial solutions for 20 new clients in the second half of March. Outlined below are brief descriptions of the transactions:
- $2.5 million USDA Rural Energy for America Program (REAP) loan facility and a $1.25 million USDA Business & Industry (B&I) loan facility to a solar developer in South Carolina. The financing converts a 16-year power purchase agreement (PPA) into permanent debt for a 25-year term and will be used to install a 14.8 MW DC utility solar farm, which has a utility company as the off-taker.
- $400,000 ledgered line of credit facility was provided to a staffing company in South Carolina for working capital purposes
- $50,000 A/R purchase facility to a trucking company in California for working capital purposes
- $552,000 new lease transaction with a fitness club in the Midwestern U.S. on March 20 for fitness equipment
- $666,000 new lease transaction with a manufacturing company in the Western U.S. for machine tooling
- $100,000 A/R purchase facility to a trucking company in Missouri for working capital purposes
- $2.06 million SBA 7(a) term loan facility to a swim school franchise in Texas for new construction and for working capital purposes
- $150,000 A/R purchase facility to a startup trucking company in Illinois for working capital purposes
- $2.05 million USDA REAP loan facility to a solar developer in Texas. The financing converts a five-year PPA into permanent debt for a 20-year term and will be used to install a 6,828 kW DC solar farm, which has a utility company as the off-taker.
- $1.95 million USDA REAP loan facility to a solar developer in Texas. The financing converts a five-year PPA into permanent debt for a 20-year term and will be used to install a 7,127 kW DC solar farm, which has a utility company as the off-taker.
- $1.95 million USDA REAP loan facility to a solar developer in Texas. The financing converts a five-year PPA into permanent debt for a 20-year term and will be used to install a 7,002 kW DC solar farm, which has a utility company as the off-taker.
- $4.45 million USDA REAP loan facility to a solar developer in Texas. The financing converts a five-year PPA into permanent debt for a 20-year term and will be used to install a 14,005 kW DC solar farm, which has a utility company as the off-taker.
- $3.0 million ledgered line of credit facility to an engineering services provider in Illinois to pay off an existing lender and for working capital purposes
- $1.705 million SBA 7(a) term loan facility to a financial services franchise in Illinois for acquisition purposes
- $455,000 new lease transaction with a medical services provider in the Western U.S. for laboratory testing equipment
- $1.376 million new lease transaction with a food manufacturer in the Southeastern U.S. for capital equipment
- $685,000 new lease transaction with an energy company in the Western U.S. for construction equipment
- $600,000 A/R purchase facility to a trucking company in Ohio for working capital purposes
- $710,000 SBA 7(a) term loan facility to a preschool franchise in Texas for new construction and for working capital purposes
- $250,000 A/R purchase facility to a trucking company in Oregon for working capital purposes