Daily News: April 2, 2013

Crestmark Closes Eight Transactions Totaling $5.6MM


Crestmark secured a total of $5.6 million in financial solutions for eight new clients since March 15.

  • On March 20, a $1.5 million a ledgered line of credit facility with advances on accounts receivable was provided to a Florida technology distributor. Financing will be used for working capital.

  • On March 22, a $500,000 traditional factoring facility was provided to a New Jersey start-up company that manufactures and distributes wholesale apparel.

  • A $350,000 ledgered line of credit facility with advances on accounts receivable was provided on March 26 to a temporary staffing company in Michigan that provides medical staffing to hospitals.

  • On March 27, a $750,000 accounts receivable purchase facility was provided to a Texas transportation company that hauls meat, frozen foods, and produce across the southwest.

  • On March 29, a $500,000 traditional factoring facility was provided to a Mississippi furniture company that sells to furniture retailers nationwide.

  • A $750,000 accounts receivable purchase facility was also provided on March 29 to a California staffing company providing administrative and clerical resources. Financing will be used for working capital.

  • Also on March 29, a $1 million ledgered line of credit facility was provided to a northern-California staffing company. Financing will be used for working capital.

  • A $250,000 ledgered line of credit facility was also provided on March 29 to an Alabama start-up providing general labor and manufacturing staff. Financing will be used for working capital.