Daily News: February 2, 2018

Crestmark Closes 22 Transactions Totaling $23.3MM H2/January


Crestmark secured a total of $23.3 million in financial solutions for 22 new clients in the second half of January.

The transactions included:

  • $2 million new lease transaction for a health care company in the Eastern U.S. The financing will be used for software.
  • $350,000 accounts receivable purchase facility for a trucking company in Kentucky. The financing will be used for working capital purposes.
  • $3.5 million ledgered line of credit facility for a manufacturer of paper products in Alabama. The financing will be used for working capital purposes.
  • $250,000 accounts receivable purchase facility for a trucking company in Florida. The financing will be used for working capital purposes.
  • $600,000 accounts receivable purchase facility for a trucking company in California. The financing will be used for working capital purposes.
  • $1.1 million new lease transaction for a defense contractor in the Midwest U.S. The financing will be used for capital equipment.
  • $100,000 accounts receivable purchase facility for a trucking company in Texas. The financing will be used for working capital purposes.
  • $250,000 traditional factoring facility for an importer and distributor of children’s toys in Florida. The financing will be used for working capital purposes.
  • $150,000 accounts receivable purchase facility for a trucking company in North Carolina. The financing will be used for working capital purposes.
  • $2.6 million new lease transaction for a manufacturer in the southeastern U.S. The financing will be used for software.
  • $3 million asset-based line of credit facility for a manufacturer and distributor of milk and cream products in Pennsylvania. The financing will be used to pay off an existing lender and for working capital purposes.
  • $50,000 accounts receivable purchase facility for a startup freight brokerage in Florida. The financing will be used for working capital purposes.
  • $150,000 accounts receivable purchase facility for a startup trucking company in Illinois. The financing will be used for working capital purposes.
  • $300,000 accounts receivable purchase facility for a startup freight brokerage in Florida. The financing will be used for working capital purposes.
  • $1.41 million 96-month operating lease transaction for a solar developer in Pennsylvania. The financing will be used to install a 506kW-DC solar farm in Massachusetts, which has a private real estate development company as the off-taker.
  • $300,000 SBA 7(a) term loan facility for an HVAC and plumbing company in North Carolina. The financing will be used to pay off an existing lender and for working capital purposes.
  • $100,000 accounts receivable purchase facility for a startup trucking company in North Carolina. The financing will be used for working capital purposes.
  • $500,000 accounts receivable purchase facility for a wholesaler of marine mechanical and electric products in Florida. The financing will be used for working capital purposes.
  • $100,000 accounts receivable purchase facility for a startup trucking company in New York. The financing will be used for working capital purposes.
  • $150,000 accounts receivable purchase facility for a trucking company in South Carolina. The financing will be used for working capital purposes.
  • $6 million asset-based line of credit facility for a fluid management company for the oil and gas service industry in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
  • $335,000 insurance agency term loan facility for an independent insurance agency in Illinois. The financing will be used to pay off an existing lender, for acquisition purposes, and for working capital purposes.