Daily News: October 24, 2014

Crestmark Closes $7.4MM in Credit Facilities H1/October


Crestmark secured a total of $7,397,200 in financial solutions for seven new clients in the first half of October.

  • A $622,500 SBA term loan was provided to an independent insurance agent in Texas for acquisition purposes.
  • On October 6, a $2 million accounts receivables purchase facility was provided to a book printing and binding service provider in Michigan for working capital purposes.
  • A $250,000 accounts receivable purchase facility was provided on October 6 to a Kentucky trucking company for working capital purposes.
  • On October 9, an accounts receivable purchase facility and term loan, totaling $525,000, was provided to an Ohio automotive supplier.
  • A $2 million accounts receivables purchase facility was provided on October 9 to an importer and distributor of fresh flowers in Florida.
  • On October 10, a $630,000 SBA term loan was provided to a hotel franchisee in Florida for refinancing purposes.
  • A $1.37 million SBA term loan was provided on October 10 to a hotel management company in Florida for refinancing purposes.