Crestmark, the commercial finance division of MetaBank, secured a total of $15.79 million in asset-based lending and factoring financial solutions for 12 new clients in the first half of May. In addition, Crestmark Equipment Finance provided $15,547,956 in seven new transactions and Crestmark Vendor Finance provided $2,791,048 in 28 new transactions.
Crestmark’s Asset-Based Lending and Factoring
- Provided a $200,000 accounts receivable purchase facility to an Alabama-based power-only freight transportation company, which will use the financing for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a Maryland-based general freight trucking company, which will use the financing for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a North Carolina-based regional trucking company, which will use the financing for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a Pennsylvania-based power-only load transportation company, which will use the financing for working capital purposes
- Provided a $200,000 accounts receivable purchase facility to an Alabama-based refrigerated transportation company, which will use the financing for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a Montana-based flatbed trucking company, which will use the financing for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a North Carolina-based trucking company, which will use the financing for working capital purposes
- Provided a $200,000 ledgered line of credit facility to a Florida-based IT solutions and staffing services company, which will use the financing for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a California-based refrigerated trucking company, which will use the financing for working capital purposes
- Provided a $3 million asset-based lending facility and a $990,000 term loan facility to a Michigan-based automotive metal stamping services company, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $300,000 accounts receivable purchase facility to a Florida-based regional trucking company, which will use the financing for working capital purposes
- Provided a $10 million term loan facility to a Michigan-based development company, which will use the financing for acquisition purposes
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Crestmark Equipment Finance Highlights
- Completed a $5 million new lease transaction with a manufacturing company in the Midwest. The financing will be used for operational equipment.
- Completed a $4.05 million new lease transaction with an inland water freight company in the southern U.S. The financing will be used for operational equipment.
- Completed a $4,111,279 new lease transaction with a machinery manufacturing company in the northeastern U.S. The financing will be used for IT equipment.
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Crestmark Vendor Finance Highlights
- Completed an equipment finance transaction with a transportation company in the western U.S. The financing will be used for operational equipment.
- Completed an equipment finance transaction with a spa and laser services company in the Midwest. The financing will be used for medical equipment.
- Completed a new equipment finance transaction with a dumpster rental company in the southern U.S. The financing will be used for operational equipment.
- Completed a new equipment finance transaction with a food manufacturing company in the southern U.S. The financing will be used for operational equipment.
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