Daily News: October 2, 2012

Crestmark Provides $7.6 Million to Eight New Customers


Crestmark announced that for the month of September the company helped eight new clients with agreements totaling $7.65 million.

The transactions include:

  • a $975,000 accounts receivable purchase facility to a Missouri-based trucking company. The funding will be used for amortization and working capital.

  • a $250,000 accounts receivable purchase facility for a Miami-based transportation company.

  • a $1.5 million traditional factoring facility for a New York-based footwear importer and wholesaler.

  • a $300,000 accounts receivable purchase facility to a Southern-based transportation company. Funding will provide working capital for this startup company.

  • a $500,000 accounts receivable purchase facility for a Michigan-based subcontractor that renovates projects for a variety of blue-chip companies.

  • a $2 million rediscount line for a non-profit Michigan-based company that assists with the purchase and installation of cost-effective lighting.

  • a $125,000 accounts receivable purchase facility for a Southern-based trucking company. Funding will provide working capital.

  • a $2 million ledgered line of credit for a California designer, manufacturer and distributor of skateboarding shoes and apparel. Funding will be used for amortization and working capital.
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    Filed Under: Factoring