Daily News: October 22, 2013

Crestmark Closes Nearly $4 Million in H1/October

Crestmark secured a total of $3.9 million in financial solutions for three new clients in first two weeks of October:

  • On October 8, a $400,000 ledgered line of credit facility was provided to a North Carolina staffing company.
  • A $1.5 million accounts receivable purchase facility was provided on October 9 to a Florida specialty foods manufacturer.
  • On October 11, a $2 million ABL facility with advances on inventory was provided to a Texas distributor of electrical equipment. Funding will be used to provide working capital and pay back shareholder investments.