Daily News: May 6, 2014

Crestmark Closes Over $11.5MM in Last Half of April


Crestmark secured a total of $11,763,500 in financial solutions for six new clients in the final two weeks of April.

On April 19, a $500,000 accounts receivable purchase facility was provided to a manufacturer of nutritional products located in Utah.

A $500,000 accounts receivable purchase facility was provided on April 21 to a truckload carrier in Louisiana.

On April 24, a $250,000 accounts receivable purchase facility was secured to provide working capital to a start-up trucking company in Tennessee.

A $7,500,000 asset based lending facility with advances on accounts receivable and inventory was provided on April 25 to a Texas distributor of pipe and pipe fittings.

On April 30, a $1,000,000 traditional factoring facility was provided to a New York designer and distributor of diamonds and jewelry.

A $1,250,000 asset based lending facility with advances on accounts receivable and machinery/equipment was provided on April 30 to a CNC machining and processing facility in Ohio.