Daily News: February 17, 2017

Crestmark Funds More Than $15MM in First Half of February


Crestmark secured a total of $15.135 million in financial solutions for 26 new clients in the first half of February. Transaction highlights are below:

  • $250,000 traditional factoring facility to a wholesaler of men’s clothing in California for working capital purposes
  • A Florida-based jewelry manufacturer entered into a funds-as-collected traditional factoring facility
  • $1.95 million SBA 7(a) term loan facility to an independent insurance agency in Florida to support acquisitions
  • $197,000 SBA 7(a) term loan facility to a fast food franchise in Michigan for working capital purposes
  • $98,000 term loan facility to a fast food franchise in Michigan
  • $465,000 SBA 7(a) term loan facility to an independent insurance agency in Idaho for acquisition purposes
  • $100,000 accounts receivable purchase facility to a trucking company in Minnesota for working capital purposes
  • $300,000 accounts receivable purchase facility to a trucking company in Minnesota for working capital purposes
  • $500,000 accounts receivable purchase facility to an IT consulting firm in Michigan for working capital purposes
  • $800,000 ledgered line of credit facility to a medical supplies distributor in Florida to pay off an existing lender and for working capital purposes
  • An Illinois-based fabric importer entered into a funds-as-collected traditional factoring facility for working capital purposes
  • $100,000 accounts receivable purchase facility to a trucking brokerage in Wisconsin for working capital purposes
  • $500,000 accounts receivable purchase facility to a trucking company in Tennessee for working capital purposes
  • $150,000 accounts receivable purchase facility to a trucking company in Texas for working capital purposes
  • $300,000 accounts receivable purchase facility to a trucking company in Texas for working capital purposes
  • $400,000 accounts receivable purchase facility to a trucking brokerage in Pennsylvania for working capital purposes
  • $3 million asset-based line of credit facility to an oilfield service provider in Texas to pay off an existing lender and for working capital purpose
  • $100,000 accounts receivable purchase facility to a startup trucking company in Washington for working capital purposes
  • $100,000 accounts receivable purchase facility to a startup trucking company in Nebraska for working capital purposes
  • $125,000 accounts receivable purchase facility to a trucking company in Illinois for working capital purposes
  • $1.75 million ledgered line of credit facility to an automotive parts manufacturer in Michigan for acquisition and working capital purposes
  • $3 million ledgered line of credit facility to a staffing company in Florida for working capital purposes
  • $100,000 accounts receivable purchase facility to a startup trucking company in Illinois for working capital purposes
  • $200,000 accounts receivable purchase facility to a trucking company in Virginia for working capital purposes
  • $150,000 accounts receivable purchase facility to a trucking company in Texas for working capital purposes
  • $500,000 accounts receivable purchase facility to a staffing company in Pennsylvania for working capital purposes