Daily News: November 6, 2013

Crestmark Closes More Than $21MM in H2/October


Crestmark secured a total of $21 million in financial solutions for six new clients in the second half of October:

  • On October 18, a $4 million ABL facility was provided to a Maryland commercial printer.
  • A $5 million ABL facility was also provided on October 18 to a Florida water pump manufacturer.
  • Also on October 18, a $750,000 ledgered line of credit facility was provided to a New York secondary food distributor.
  • On October 23, a $2.3 million ABL facility with advances on accounts receivable and an equipment and machinery term component was provided to a Texas wireless network solutions provider. Funding will be used to pay off the prior lender and provide working capital.
  • A $5 million ledgered line of credit facility was provided on October 24 to a Virginia fuel broker.
  • On October 31, a $4 million ABL facility with advances on accounts receivable and inventory was provided to a Texas surfaces fabricator.
    Funding will be used to pay off the prior lender and provide working capital.