Daily News: June 6, 2014

Crestmark Closes Over $9MM in Late May Transactions


Crestmark secured a total of $9,275,000 in financial solutions for five new clients in the second half of May.

On May 21, a $7.2 million asset based lending facility was provided to a staffing company in Texas. The funds will be used to accommodate growth.

A $300,000 accounts receivable purchase facility was provided on May 21 to a start-up trucking company in Kentucky.

On May 22, a $775,000 ledgered line of credit was provided to an Illinois manufacturer of presentation and packaging materials.

A $500,000 ledgered line of credit was provided on May 29 to a provider of communications/cable installation services in Michigan.

On May 30, a $500,000 traditional factoring facility was provided to a New York importer of men’s sportswear and denim.