Daily News: September 13, 2017

Crestmark Closes 24 Transactions Totaling More Than $23MM


Crestmark secured a total of $23.008 million in financial solutions for 24 new clients in the second half of August. Brief details of the transactions include:

  • $5 million SBA 7(a) term loan facility and a $1 million term loan to a hospitality management company in Georgia for acquisition purposes
  • $750,000 ledgered line of credit facility to a metal coating company in Ontario to pay off an existing lender and for working capital
  • $775,000 new lease transaction with an internet services company in the northeastern U.S. for technology equipment
  • $500,000 A/R purchase facility to an apparel trimmings wholesaler in Colorado for working capital
  • $2 million A/R purchase facility to a trucking company in Illinois for working capital
  • $250,000 A/R purchase facility to an apparel importer and distributor in North Carolina for working capital
  • $565,000 new lease transaction with a mortgage company in the eastern U.S. for technology equipment
  • $150,000 A/R purchase facility to a trucking company in Pennsylvania for working capital
  • $2 million A/R purchase facility to a manufacturer of shipping containers in Tennessee to pay off an existing lender and for working capital
  • $800,000 traditional factoring facility to a women’s apparel distributor in British Columbia for working capital
  • $500,000 A/R purchase facility to a startup freight brokerage in Georgia for working capital
  • $500,000 A/R purchase facility to a startup trucking company in Georgia for working capital
  • $1 million ledgered line of credit facility to a staffing company in Ohio to pay off an existing lender and for working capital
  • $250,000 traditional factoring facility to a men’s apparel importer and distributor in Florida for working capital
  • $630,000 insurance agency term loan facility to an independent insurance agency in California for acquisition purposes
  • $773,000 new lease transaction to a logistics company in the Midwestern U.S. for capital equipment
  • $100,000 A/R purchase facility to a trucking company in Florida for working capital
  • $150,000 A/R purchase facility to a trucking company in North Carolina for working capital
  • $250,000 traditional factoring facility to a men’s apparel distributor in Pennsylvania for working capital
  • $2.25 million SBA 7(a) term loan facility to a hospitality management company in Florida for acquisition purposes
  • $100,000 A/R purchase facility to a trucking company in Arkansas for working capital
  • $1.250 million ledgered line of credit to a staffing company in Colorado to pay off an existing lender and for working capital
  • $675,000 insurance agency term loan to an independent insurance agency in Texas for acquisition purposes
  • $790,000 SBA 7(a) term loan to an independent insurance agency in Massachusetts for acquisition and working capital