Daily News: August 21, 2014

Crestmark Closes Nine Transactions in H1/August


Crestmark announced it secured the following financial solutions for nine new clients:

  • On August 4, a $2 million ledgered line of credit was provided to an outdoor apparel manufacturer in Rhode Island. The funds will be used to pay off an existing lender and as working capital.
  • A $250,000 A/R purchase facility was provided on August 4 to a pharmaceutical courier located in Indiana for working capital purposes.
  • On August 6, a $600,000 A/R purchase facility was provided to an Illinois trucking company to provide working capital for startup.
  • A $750,000 traditional factoring facility was provided on August 6 to a New York apparel distributor for working capital purposes.
  • On August 7, a $3 million ledgered line of credit was provided to a Texas distributor of frozen vegetables. The funds will be used for working capital.
  • A $600,000 A/R purchase facility was provided on August 7 to a trucking company located in Kansas to pay off a previous lender and to provide working capital.
  • On August 11, a $2.5 million traditional factoring facility was provided to a distributor of consumer products located in North Carolina.
  • A $250,000 traditional factoring facility was provided on August 12 to a women’s apparel distributor in New York.
  • On August 14, a $600,000 A/R purchase facility was provided to a frac hauler in Texas for working capital purposes.