Crestmark secured a total of $46.9 million in financial solutions across 18 transactions for 14 new clients in the first half of August. The transactions included:
- $75,000 A/R purchase facility to trucking brokerage in Alabama for working capital purposes
- $2 million construction loan facility to a solar developer in Massachusetts to install a 2,244 KW DC solar farm in Vermont, which will be repaid with Crestmark-provided sale-leaseback financing under a $4.12 million 120-month operating lease.
- $100,000 A/R purchase facility to a trucking company in Connecticut for working capital purposes
- $750,000 A/R purchase facility to a food manufacturer and distributor in Florida for working capital purposes
- $5.04 million new lease transaction with a civil construction company in the Southern U.S. for capital equipment
- $100,000 A/R purchase facility to a trucking company in Maryland for working capital purposes
- $500,000 A/R purchase facility to a startup freight brokerage in Mississippi for working capital purposes
- Five new lease transactions totaling $14.03 million with a manufacturer in the Midwestern U.S. for IT equipment
- $150,000 A/R purchase facility to a startup trucking company in Georgia for working capital purposes
- $200,000 A/R purchase facility to a startup freight brokerage in Illinois for working capital purposes
- $300,000 A/R purchase facility to a trucking company in Iowa for working capital purposes
- $15 million, 125-month operating lease transaction with a solar manufacturer in California for 100 mobile solar generators
- $7.5 million term loan facility to a solar energy provider in Minnesota to pay off an existing lender, which will be repaid with a Crestmark USDA loan facility upon final allocation of USDA Business & Industry funds from the USDA’s national office.
- $1.195 million term loan facility to an independent wealth management firm in Pennsylvania to pay off an existing lender