Daily News: July 11, 2014

Crestmark Closes $5.5MM in Recent Transactions


Crestmark announced it secured the following financial solutions for six new clients in the second half of June:

  • On June 16, a $2.5 million ledgered line of credit was provided to a paving company in Virginia. The funds will be used to pay off an existing lender and accommodate growth.
  • A $500,000 ledgered line of credit was provided on June 19 to a Michigan manufacturer of conveyor components for working capital purposes.
  • On June 24, a $1 million ledgered line of credit was provided to an Illinois bulk mail fulfillment company.
  • A $750,000 ledgered line of credit was provided on June 26 to a staffing company located in Michigan, which will be used for additional working capital.
  • On June 26, a $500,000 A/R purchase facility was provided to a Minnesota distributor of alternative energy products. The funds will be used to pay off existing lenders and for working capital.
  • A $300,000 A/R purchase facility was provided on June 30 to a start-up trucking company located in Kentucky.