Daily News: October 21, 2015

Crestmark Closes $9MM of Transactions in First Half of October


Crestmark secured a total of $9.07 million in financial solutions for eight new clients in the first half of October.

  • $250,000 accounts receivable purchase facility was provided to a startup trucking company in California. The financing will be used for working capital purposes.
  • $3,500,000 asset-based line of credit facility was provided on October 5 to an importer/distributor of fruit juice, nuts and spices. The financing will be used to pay off a previous lender and for working capital purposes.
  • $300,000 SBA 7(a) term loan facility was provided on October 5 to an independent insurance agency in New York. The financing will be used for acquisition purposes.
  • $500,000 accounts receivable purchase facility was provided to a startup trucking company in Illinois. The financing will be used for working capital purposes.
  • $500,000 accounts receivable purchase facility was provided to a trucking company in Illinois. The financing will be used for working capital purposes.
  • $3.1 million SBA 7(a) term loan facility was provided on October 8 to a hospitality management company in New Jersey. The financing will be used to pay off a previous lender.
  • $420,000 SBA 7(a) term loan facility was provided on October 9 to an independent insurance agency in Michigan. The financing will be used for acquisition purposes.
  • $500,000 accounts receivable purchase facility was provided to a startup trucking company in Georgia. The financing will be used for working capital purposes.