Crestmark said it secured a total of $7,466,000 in financial solutions for ten new clients in the first two weeks of May.
Brief summaries follow:
$1.0 million ledgered line of credit was provided to a transportation and warehouse provider in California. The funds will be used for working capital needs and to accommodate growth.
$3.0 million accounts receivable purchase facility was provided to a Canadian full- service transportation company.
$600,000 ledgered line of credit was provided to a distributor of medical equipment in North Carolina.
$350,000 traditional factoring facility was provided to a designer and distributor of children’s shoes in New York.
$279,000 traditional factoring facility was provided to a Florida designer and wholesaler of apparel.
$250,000 accounts receivable purchase facility was provided to a startup trucking company in Kentucky.
$500,000 traditional factoring facility was provided to a wholesaler of bedroom and dining room furniture located in California.
$50,000 asset-based lending facility was provided to a Michigan manufacturer supporting the automotive and construction industries. The funds will be used for working capital purposes.
$1.137 million combined total of a ledgered line of credit and an equipment term loan provided to an Illinois bulk mail fulfillment company.
$300,000 accounts receivable purchase facility was provided to a start-up trucking company in Illinois.