Daily News: April 3, 2015

Crestmark Closes $7MM in the H2/March


Crestmark secured a total of $6.95 million in financial solutions for nine new clients in the second half of March.

  • A $250,000 A/R purchase facility was provided on March 16 to a trucking company in Pennsylvania. The financing will be used for working capital purposes.
  • On March 19, a $200,000 A/R purchase facility was provided to a Texas land surveying and oilfield services provider. The financing will be used for working capital purposes.
  • A $400,000 A/R purchase facility was provided on March 19 to a trucking company in North Carolina. The financing will be used for working capital purposes.
  • On March 20, a $2 million ABL of credit was provided to a third-party logistics company in Michigan. The financing will be used for acquisition and working capital purposes.
  • A $350,000 A/R purchase facility was provided on March 23 to a printing services provider in North Carolina. The financing will be used for working capital purposes.
  • On March 26, a $2.5 million ABL of credit and term loan facility was provided to a thermoforming services provider in Wisconsin. The financing will be used for to pay off a previous lender and for working capital purposes.
  • A $500,000 traditional factoring facility was provided on March 30 to an apparel designer and manufacturer in Florida.
  • On March 31, a women’s luxury sportswear and street fashion apparel distributor in New York entered into a funds-as-collected factoring facility with Crestmark.
  • A $750,000 traditional factoring facility was provided on March 31 to a feminine hygiene product designer and distributor in Oregon.