Daily News: January 9, 2015

Crestmark Closes Over $23MM in December Transactions


Crestmark announced it secured a total of over $23 million in financial solutions for fifteen new clients in the month of December.

  • A $225K SBA term loan facility was provided to a Florida insurance agency. The financing will be used for working capital purposes.
  • A $2 million equipment leasing facility was provided to a renewable energy producer in PA. The financing will be used for working capital purposes.
  • A $700K accounts receivable purchase facility was provided to a fire safety products distributor in MI. The financing will be used to pay off a previous lender and for working capital purposes.
  • A $1 million traditional factoring facility was provided to a NY manufacturer and distributor of women’s apparel.
  • A $3.8 million SBA term loan facility was provided to a LA hotel management company. The financing will be used for acquisition purposes.
  • A $1 million accounts receivable purchase facility was provided to a marine services provider in RI. The financing will be used for working capital purposes.
  • A $2 million accounts receivable purchase facility was provided to an oil field services provider in TX and will be used for working capital purposes.
  • A $2 million asset-based line of credit was provided to an accessories designer and manufacturer in OH. The financing will be used to pay off a previous lender and for working capital purposes.
  • A $6 million asset-based line of credit was provided to a marketing firm in OH. The financing will be used to pay off a previous lender and for working capital purposes.
  • A $750K accounts receivable purchase facility was provided to a tool and die manufacturer in SD. The financing will be used for working capital purposes.
  • A $750K accounts receivable purchase facility was provided to a CNC manufacturer in OH. The financing will be used to pay off a previous lender.
  • A $2 million asset-based line of credit was provided to commercial printer in FL. The financing will be used for working capital purposes.
  • A $500K accounts receivable purchase facility was provided on December 26 to a transportation company in MI. The financing will be used for working capital purposes.
  • A $500K accounts receivable purchase facility was provided to a MS transportation company. The financing will be used for working capital purposes.