Daily News: April 18, 2013

Crestmark Closes Six Transactions Totaling More Than $3MM


Crestmark secured a total of $3.05 million in financial solutions for six new clients since April 1.

  • On April 5, a $150,000 accounts receivable purchase facility was provided to a Kentucky start-up trucking operation hauling general dry freight primarily in the southern states.

  • A $500,000 ledgered line of credit facility was provided on April 10 to a Michigan broker and distributor of steel.

  • Also on April 10, a $750,000 ledgered line of credit facility was provided to an Alabama medical staffing company. Financing will be used to pay off debts and provide working capital.

  • On April 11, a $600,000 ledgered line of credit facility with advances on accounts receivable was provided to an Ohio manufacturer of sublimation printing.

  • A $300,000 accounts receivable purchase facility was provided on April 12 to a California company that assists car rental agencies dispose of their fleets.

  • On April 15, a $750,000 ledgered line of credit facility was provided to a South Carolina staffing company.