Crestmark Secures $9.7MM in ABL Solutions in H2/Dec

Crestmark secured a total of $9.7 million in ABL financial solutions for four new clients and Crestmark’s government guaranteed lending group provided $38.165 million in financing for eight new clients in the second half of December. In addition, Crestmark Equipment Finance provided $25,440,689 in 10 new lease transactions and Crestmark Vendor Finance provided $5,792,233 in 65 new lease transactions.

Crestmark’s Asset-Based Lending

• Provided a $3 million asset-based lending facility to a Michigan-based blender and distributor of ink products, which will use the financing to pay off an existing lender and for working capital purposes.

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• Provided a $200,000 accounts receivable purchase facility to a Michigan-based freight all kinds transportation company, which will use the financing for working capital purposes.

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• Provided a $4 million asset-based lending facility to a Louisiana-based oilfield materials distributor, which will use the financing for acquisition purposes.

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• Provided a $2.5 million accounts receivable purchase facility to a California-based transportation company, which will use the financing to pay off an existing lender and for working capital purposes.

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Crestmark’s Government Guaranteed Lending Group

• Provided a $2,794,300 USDA B&I term loan facility to a Missouri-based solar developer, which will use the financing to pay off an existing lender.

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• Provided a $10,505,400 term loan facility to a New Hampshire-based solar developer, which will use the financing for construction purposes.

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• Provided a $1.77 million term loan facility to a Pennsylvania-based wealth advisory firm, which will use the financing for acquisition purposes and to pay off an existing lender.

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• Provided a $3,141,900 USDA B&I term loan facility to a Missouri-based solar developer, which will use the financing to pay off an existing lender and for working capital purposes.

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• Provided a $2,878,800 term loan facility to a North Carolina-based solar developer, which will use the financing for construction purposes.

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• Provided a $3,419,600 term loan facility to a North Carolina-based solar developer, which will use the financing for construction purposes.

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• Provided a $11.4 million term loan facility to a California-based solar developer, which will use the financing for working capital purposes.

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• Provided a $2.255 million term loan facility to a North Carolina-based financial advisory firm, which will use the financing for acquisition and working capital purposes.

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Crestmark Equipment Finance

• Completed a $675,395 new lease transaction with a networking provider in the western U.S. The financing will be used for IT equipment.

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• Completed a $4,454,400 new lease transaction with an electrical equipment manufacturing company in the eastern U.S. The financing will be used for operational equipment.

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• Completed a $1,660,930 new lease transaction with an entertainment and hospitality company in the western U.S. The financing will be used for IT equipment.

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• Completed a $1,065,323 new lease transaction with a facility support services company in the western U.S. The financing will be used for capital equipment.

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• Completed an $810,442 new lease transaction with a business services and marketing company in the Midwestern U.S. The financing will be used for IT equipment.

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• Completed a $4,328,176 new lease transaction with an automotive manufacturer in the Southeastern U.S. The financing will be used for operational equipment.

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• Completed a $3,963,582 new lease transaction with an apparel company in the Southeastern U.S. The financing will be used for capital equipment.

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• Completed a $3,495,856 new lease transaction with a global manufacturing company in the Midwestern U.S. The financing will be used for IT equipment.

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• Completed a $4 million new lease transaction with an outsourcing services provider in the western U.S. The financing will be used for communications equipment.

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• Completed a $986,585 new lease transaction with a window and door manufacturer in the Northwestern U.S. The financing will be used for capital equipment.

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Crestmark Vendor Finance funded $5,792,233 in 65 new transactions in the second half of December. Some highlights include:

• An equipment finance transaction with a medical office in the Southeastern U.S. The financing will be used for essential equipment.

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• An equipment finance transaction with a construction company in the western U.S. The financing will be used for operational equipment.

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• A new equipment finance transaction with a manufacturing company in the western U.S. The financing will be used for essential equipment.

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• A new equipment finance transaction with a medical imaging provider in the Northwestern U.S. The financing will be used for medical equipment.

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