Crestmark secured the following financial solutions for seven new clients in the first half of March:
- A $7 million ABL provided on March 2 to a textile wholesaler in California. The financing will be used for working capital purposes.
- On March 3, a $750,000 traditional factoring facility was provided to a New York designer and manufacturer of men’s and women’s jeans.
- A $125,000 accounts receivable purchase facility was provided on March 4 to a freight broker in Texas. The financing will be used for working capital purposes.
- On March 4, a $400,000 accounts receivable purchase facility was provided to a trucking company in South Carolina. The financing will be used for working capital purposes.
- A $320,000 SBA term loan facility was provided on March 5 to an independent insurance agency in Nevada. The financing will be used to pay off a previous lender.
- On March 10, a $250,000 accounts receivable purchase facility was provided to a startup trucking company in Kentucky. The financing will be used for working capital purposes.
- A $1,250,000 accounts receivable purchase facility was provided on March 12 to a freight broker in Alabama. The financing will be used to pay off a previous lender and for working capital purposes.