Daily News: November 15, 2012

Crestmark Closes Four Transactions Totaling $3.4 Million


A total of $3.4 million in financial solutions was secured for four new Crestmark clients during the first two weeks of November.

  • A North Carolina leather upholstery company was provided a $1.25 million traditional factoring facility on November 7. The supplier designs high-quality leather upholstered furniture. Funding will be used as working capital.

  • A $500,000 ledgered line of credit facility was funded November 8 for an Arizona staffing company that provides engineers for equipment and systems testing. Funding will be used for working capital.

  • Also on November 8, Crestmark was provided a $750,000 traditional factoring facility for an importer and wholesaler of moderate to high-priced footwear. Based out of California, the footwear is sold to specialty and large retailers across the country.

  • Crestmark funded a $900,000 accounts receivable purchase facility November 9 for a California trucking company that hauls general freight and produce. Funding will be used for working capital.