Daily News: August 2, 2013

Crestmark Closes More Than $5 Million in July


Crestmark secured a total of $5.25 million in financial solutions for five new clients during the month of July.

On July 1, a $750,000 ledgered line of credit facility was provided to New Jersey-based transportation company.

A $1 million traditional factoring facility was provided on July 8 to an Ohio-based apparel wholesaler.

On July 25, a $250,000 traditional factoring facility was provided to a Texas-based apparel importer.

A $250,000 traditional factoring facility was provided on July 31 to a California-based furniture importer and distributor.

Also on July 31, a $3 million asset-based lending facility with advances on accounts receivable and inventory was provided to an Ohio-based sign manufacturer.