Daily News: May 17, 2013

Crestmark Closes $22 Million in First Two Weeks of May


Crestmark secured a total of $22.25 million in financial solutions for 11 new clients since May 1.

  • On May 2, a $600,000 ledgered line of credit facility was provided to a Montana transportation company.

  • A $550,000 A/R purchase facility was provided on May 3 to a Florida specialty camera manufacturer and distributor.

  • Also on May 3, a $550,000 A/R purchase facility was provided to a Canadian specialty camera manufacturer and distributor.

  • On May 6, a $250,000 traditional factoring facility was provided to a Florida apparel company.

  • A $4.3 million ledgered line of credit facility with an equipment term loan was provided on May 8 to a Texas oil well company. Funding will be used to pay off a prior lender and provide working capital.

  • On May 9, a $2.5 million ledgered line of credit facility was provided to an Alabama food processing plant. Funding will be used to provide working capital.

  • On May 10, a $6 million asset-based lending facility with advances on A/R and inventory was provided to a Massachusetts equipment manufacturer.

  • A $3,500,000 ledgered line of credit facility was also provided on May 10 to a North Carolina lumber broker.

  • Also on May 10, a $500,000 A/R purchase facility was provided to a Tennessee electrical, lighting, and HVAC distributor.

  • On May 13, a $2.5 million ledgered line of credit facility was provided to a California solar energy system design, engineering, and distribution company.

  • A $1 million ledgered line of credit facility was provided on May 14 to a Texas industrial services company.