Daily News: February 20, 2015

Crestmark Closes More Than $5MM in H1/February


Crestmark secured a total of $5.4 million in financial solutions for four new clients in the first half of February.

• A $400,000 accounts receivable purchase facility was provided on February 2 to a staffing agency in Maryland. The financing will be used for working capital purposes.
• On February 4, a $1.5 million traditional factoring facility was provided to an apparel retailer in New Jersey. The financing will be used to pay off a previous lender and for working capital purposes.
• A $500,000 accounts receivable purchase facility was provided on February 6 to a distributor of automotive parts in North Carolina. The financing will be used for working capital purposes.
• On February 11, a $3 million accounts receivable purchase facility was provided to a California manufacturer and distributor of footwear. The financing will be used to pay off a previous lender and for working capital purposes.