Daily News: December 6, 2018

Crestmark Provides Over $37.4MM in Financing in H2/November


Crestmark secured a total of $10.39 million in ABL financial solutions for eight new clients in the last half of November 2018. Concurrently, Crestmark Equipment Finance provided $17.779303 million in eight new lease transactions; Crestmark Vendor Finance provided $4.643629 in 53 new lease transactions; and the Government Guaranteed Lending Division provided $4.68 million in financing for five new clients.

Those transactions included:

In the ABL division:

  • $500,000 A/R purchase facility to a trucking company in Ohio for working capital purposes
  • $5 million asset-based line of credit facility to a roofing manufacturer in Ohio to pay off an existing lender and for working capital purposes
  • $1.5 million Canadian ledgered line of credit and a $300,000 U.S. ledgered line of credit to a trucking company in British Columbia, Canada to pay off an existing lender and for working capital purposes
  • $150,000 A/R purchase facility to a trucking company in Texas for working capital purposes
  • $250,000 A/R purchase facility to a trucking company in California for working capital purposes
  • $2.5 million ledgered line of credit to a wireless network service provider in California to pay off an existing lender and for working capital purposes
  • $150,000 A/R purchase facility to a startup trucking company in Michigan for working capital purposes
  • $40,000 A/R purchase facility to trucking company in Minnesota for working capital purposes

In Crestmark Equipment Finance:

  • $800,000 new lease transaction for a furniture supplier in the southeastern U.S. for capital equipment
  • $1.07509 million new lease transaction for a software and data services company in the western U.S. for IT equipment
  • $568,893 new lease transaction for an energy management company in the midwestern U.S. for IT equipment
  • $961,921 new lease transaction for an energy management company in the midwestern U.S. for IT equipment
  • $898,039 new lease transaction for an energy management company in the midwestern U.S. for IT equipment
  • $2.01379 million new lease transaction for an IT services provider in the midwestern U.S. for IT equipment
  • $10.875 million 63-month operating lease transaction for a solar developer in the western U.S. for 150 mobile solar generators
  • $586,570 new lease transaction for an oil and gas services provider in the southern U.S. for capital equipment

In Crestmark Vendor Finance:

  • $4.643629 million in 53 transactions

In the Government Guaranteed Lending Division:

  • $120,000 SBA 7(a) term loan to a restaurant franchisee in California for working capital purposes
  • $2.714 million term loan to an investment advisory firm in North Carolina to pay off an existing lender
  • $790,000 term loan to an investment advisory firm in New Jersey to pay off an existing lender.
  • $790,000 term loan to an investment advisory firm in California to pay off an existing lender
  • $266,000 SBA 7(a) term loan to a restaurant franchisee in Michigan for working capital purposes