Daily News: March 6, 2015

Crestmark Closes More Than $13MM in Transactions


Crestmark secured the following financial solutions to finish the month of February:

  • A $2.7 million SBA term loan facility was provided on February 9 to a hotel management company in Florida. The financing will be used for acquisition and renovation purposes.
  • On February 10, a $1.2 million SBA term loan facility was provided to an independent insurance agency in Massachusetts. The financing will be used for acquisition purposes.
  • A $480,000 SBA term loan facility was provided on February 17 to an independent insurance agency in Illinois. The financing will be used for acquisition purposes.
  • On February 19, a $750,000 accounts receivable purchase facility was provided to a manufacturer of furniture and door frames in California. The financing will be for working capital purposes.
  • A $1.65 million accounts receivable purchase and equipment term loan facility was provided on February 20 to a gear manufacturer in Wisconsin. The financing will be used to pay off a previous lender and for working capital purposes.
  • On February 20, a $750,000 traditional factoring facility was provided to a New York manufacturer and distributor men’s and boy’s apparel.
  • A $2 million accounts receivable purchase facility was provided on February 23 to an Illinois importer and distributor of fasteners. The financing will be used to pay off a previous lender and for working capital purposes.
  • On February 23, a $1 million traditional factoring facility was provided to a Florida wholesaler of manufactured diamonds. The financing will be used for working capital purposes.
  • A $500,000 accounts receivable purchase facility was provided on February 23 to staffing agency in Florida. The financing will be used for working capital purposes.
  • On February 24, a $1.4 million accounts receivable purchase facility was provided to an Oklahoma oilfield services provider. The financing will be used for working capital and acquisition purposes.
  • A $750,000 accounts receivable purchase facility was provided on February 25 to a North Carolina supplier of ingredients to the pet food industry. The financing will be used for working capital purposes.
  • On February 26, a $750,000 traditional factoring facility was provided to a women’s active wear designer and distributor in California. The financing will be used for working capital purposes.