Daily News: September 4, 2012

Crestmark Closes $4MM in Last Two Weeks of August


Crestmark announced that during August 13 to August 31, the company helped five new clients with agreements totaling over $4.36 million.

The transactions encompassed the following:

  • Provided a $613,043 equipment loan to a full-service fabrication company in Texas. This is a secondary fund for the company whose main customer base is the oil and gas industry.

  • Funded a $400,000 ledgered line of credit for a North Carolina-based distributor of frozen lobster tails to seafood distributors throughout the United States. The funding will provide additional working capital.

  • Funded a $750,000 traditional factoring agreement for a Maine-based organization that distributes fleece to specialty outerwear and large retailers across the country. The funding will provide additional working capital.

  • Provided a $2 million ledgered line of credit for a Southern-based environmental service and emergency response company. The funding will be used for amortization and working capital.

  • Funded a $600,000 ledgered line of credit for a Texas-based company that provides physicians staffing for hospitals.