Daily News: August 20, 2013

Crestmark Closes $3.7MM in Financings in H1 August


Crestmark secured a total of $3.7 million in financial solutions for four new clients in the first two weeks of August.

  • On August 8, a $1.5 million ledgered line of credit facility was provided to an Oklahoma oil and gas well services company. Funding will be used to provide working capital.
  • A $250,000 accounts receivable purchase facility was provided on August 12 to a Kentucky transportation company. Funding will be used to provide working capital.
  • On August 15, a $750,000 ledgered line of credit facility was provided to a Michigan automotive services company.
  • A $1.2 million asset-based lending facility was also provided on August 15 to a California manufacturing company. Financing will be used to pay off a prior lender and provide working capital.