Daily News: November 21, 2014

Crestmark Closes More Than $14MM in H1/November


Crestmark secured a total of $14.2 million in financial solutions for eight new clients in the first half of November.

  • A $2,500,000 accounts receivable purchase facility was provided on November 3 to a manufacturer of foam products in Rhode Island to pay off a previous
    lender.
  • On November 3, a $750,000 traditional factoring facility was provided to an importer and distributor of consumer goods in Texas for working capital
    purposes.
  • A $350,000 accounts receivable purchase facility was provided on November 4 to a Tennessee software and hardware company for working capital
    purposes.
  • On November 5, a $1 million accounts receivable purchase facility was provided to a Florida wood products manufacturer.
  • A $66,188 term loan was provided on November 5 to an oilfield services provider in Texas for working capital purposes.
  • On November 10, a $5 million asset-based line of credit was provided to a machinery and automotive parts manufacturer in Michigan to pay off a previous
    lender.
  • A $2,000,000 traditional factoring facility was provided on November 13 to a mattress manufacturer in Texas for working capital purposes.
  • On November 14, a $2.5 million accounts receivable purchase facility was provided to an aerospace tooling manufacturer in California for working capital
    purposes.