Daily News: June 4, 2013

Crestmark Closes Eight Transactions Totaling More Than $15MM


Crestmark secured a total of $15.25 million in financial solutions for eight new clients since May 15.

  • On May 16, a $4 million A/R purchase facility was provided to a Colorado medical staffing agency.

  • On May 17, a $200,000 A/R purchase facility was provided to a California freight broker. Funding will be used to provide working capital.

  • A $750,000 A/R purchase facility was provided on May 22 to a Florida food wholesaler.

  • On May 23, a $4.5 million asset-based lending facility with advances on accounts receivable and inventory was provided to a California furniture manufacturer and distributor.

  • Also on May 23, a $200,000 ledgered line of credit facility was provided to a North Carolina manufacturer and distributor of cleaning products.

  • A $1.5 million ledgered line of credit facility and a $350,000 term loan facility were provided on May 24 to a North Carolina trucking company. Funding will be used to provide working capital.

  • On May 31, a $3 million asset-based lending facility with advances on A/R was provided to an Illinois collection agency.

  • Also on May 31, a $750,000 A/R purchase facility was provided to a Tennessee trucking company hauling expedited freight in the Midwest.