Daily News: July 30, 2012

Crestmark Closes Four Transactions Totaling $4 Million in July


Crestmark announced the following four new clients from July 9 to July 31.

Crestmark funded an $800,000 ledgered line of credit for a North Carolina transportation company on July 9. The company hauls furniture from manufacturers to retailers throughout the northwest.

On July 19, Crestmark provided a $700,000 ledgered line of credit to a Texas-based general contractor company. Funding will be used to pay off the contractor’s prior financing company and provide working capital for the organization.

Crestmark also provided a $500,000 traditional factoring arrangement for a New Jersey-based toy company on July 23.

On July 27, Crestmark provided a mobile phone company a $2 million accounts receivable purchase facility. The Texas company will use the financing as additional working capital.

Crestmark is a provider of working capital solutions for small- to medium-sized businesses.