Daily News: February 11, 2015

Crestmark Closes More Than $14MM in January


Crestmark secured a total of $14.07 million in financial solutions for eleven new clients in the month of January.

  • A $7 million accounts receivable purchase facility was provided on January 8 to a Florida computer hardware and software supplier. The financing will be used to pay off a previous lender and for working capital purposes.
  • On January 12, a $205,000 SBA term loan was provided to an independent insurance agency in Colorado. The financing will be used for acquisition purposes.
  • A $250,000 traditional factoring facility was provided on January 13 to a women’s apparel designer and manufacturer in New York.
  • On January 16, a $750,000 traditional factoring facility was provided to a New Jersey apparel manufacturer and distributor.
  • A $500,000 accounts receivable purchase facility was provided on January 23 to a Texas oilfield waste management company. The financing will be used for working capital purposes.
  • On January 23, a $3.35 million asset-based line of credit was provided to a steel frame manufacturer in Indiana. The financing will be used for working capital purposes.
  • A $650,000 SBA term loan facility was provided on January 26 to an independent insurance agency in California. The financing will be used for acquisition purposes.
  • On January 26, a $365,000 SBA term loan facility was provided to an independent insurance agency in Maine. The financing will be used for debt refinancing.
  • A $500,000 accounts receivable purchase facility was provided on January 28 to a Florida plastic product manufacturer. The financing will be used for working capital purposes.
  • On January 28, a $250,000 traditional factoring facility was provided to a California designer and distributor of women’s footwear and accessories.
  • A $250,000 accounts receivable purchase facility was provided on January 30 to an Illinois trucking company. The financing will be used for working capital purposes.