Crestmark secured a total of $5.4 million in asset-based lending and factoring financial solutions for nine new clients and Crestmark’s government guaranteed lending group provided $980,000 in financing for two new clients in the second half of April. In addition, Crestmark Equipment Finance provided $5,707,263 in 22 new transactions and Crestmark Vendor Finance provided $4,865,488 in 45 new transactions.
Crestmark’s Asset-Based Lending and Factoring
- Provided a $150,000 accounts receivable purchase facility to a Nebraska-based refrigerated transportation company, which will use the financing for working capital purposes
- Provided a $1.5 million accounts receivable purchase facility to an Ohio-based flatbed transportation company, which will use the financing for working capital purposes
- Provided a $750,000 ledgered line of credit facility to a Texas-based machine fixtures manufacturer, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $2 million ledgered line of credit facility to a Michigan-based fuel broker, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a South Carolina-based freight-all-kinds trucking company, which will use the financing for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to an Indiana-based dry van trucking company, which will use the financing for working capital purposes
- Provided a $400,000 accounts receivable purchase facility to a North Carolina-based trucking company, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a Massachusetts-based dry van trucking company, which will use the financing for working capital
- Provided a $150,000 accounts receivable purchase facility to a Massachusetts-based flatbed trucking company, which will use the financing for working capital
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Crestmark’s Government Guaranteed Lending Group
- Provided a $290,000 SBA 7(a) term loan facility to a Florida-based restaurant franchise, which will use the financing for acquisition purposes
- Provided a $690,000 SBA 7(a) term loan facility to a Missouri-based independent insurance agency, which will use the financing to pay off an existing lender and for working capital purposes
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Crestmark Vendor Finance Highlights
- Completed an equipment finance transaction with a transportation company in the southeastern U.S. The company will use the financing for operational equipment.
- Completed an equipment finance transaction with a medical company in the midwestern U.S. The company will use the financing for medical equipment.
- Completed a new equipment finance transaction with a crop farm in the western U.S. The farm will use the financing for operational equipment.
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