In the first half of October, Crestmark secured a total of $30,557,358 in ABL financial solutions for 13 new clients and Crestmark’s government guaranteed lending group provided $9,396,250 in financing for three new clients. In addition, Crestmark Equipment Finance provided $2,309,779 in two new lease transactions and Crestmark Vendor Finance provided $8,572,042 in 117 new transactions.
Crestmark’s Asset-Based Lending
* Provided a C$1.4 million ($1.06 million) ledgered line of credit facility to a long-distance refrigerated transportation company in British Columbia, Canada. The company will use the financing to pay off an existing lender and for working capital purposes.
* Provided a $350,000 accounts receivable purchase facility to a Kentucky-based freight all kinds (FAK) transportation company, which will use the financing for working capital purposes.
*Provided a $13 million asset-based lending facility to a Texas-based chemicals packaging and distribution company, which will use the financing to pay off an existing lender and for working capital purposes.
* Provided a $9 million asset-based lending facility to an Alabama-based designer and manufacturer of hearth products, which will use the financing to pay off an existing lender.
* Provided a $125,000 accounts receivable purchase facility to a California-based refrigerated transport company, which will use the financing for working capital purposes.
* Provided a $300,000 accounts receivable purchase facility to a Nebraska-based flatbed transportation company, which will use the financing for working capital purposes.
* Provided a $2 million ledgered line of credit facility to a Washington-based technology-based services provider, which will use the financing for working capital purposes.
* Provided a $150,000 accounts receivable purchase facility to a Texas-based refrigerated FAK transportation company, which will use the financing for working capital purposes.
* Provided a C$1.2 million ($910,000) ledgered line of credit facility to a transportation company in British Columbia, Canada. The company 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 North Carolina-based dry van transportation company, which will use the financing for working capital purposes.
* Provided a $225,000 accounts receivable purchase facility to a South Carolina-based transportation company, which will use the financing for working capital purposes.
* Provided a $3 million asset-based lending facility to a New Jersey-based specialty pharmaceuticals 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 an Ohio-based refrigerated transportation company, which will use the financing for working capital purposes.
Crestmark Equipment Finance
* Completed a $1,403,465 new lease transaction with a mortgage company in the northeastern U.S. The company will use the financing for IT equipment.
* Completed a $906,314 new lease transaction with a financial services provider in the eastern U.S. The provider will use the financing for operational equipment.
Crestmark Vendor Finance funded $8,572,042 in 117 new transactions in the first half of October, including:
* An equipment finance transaction with a construction company in the northeastern U.S. The company will use the financing for transportation equipment.
* An equipment finance transaction with a towing company in the midwestern U.S. The company will use the financing for essential equipment.
* A new equipment finance transaction with a biotechnology company in the northwestern U.S. The company will use the financing for essential equipment.
* A new equipment finance transaction with a transportation company in the northwestern U.S. The company will use the financing for transportation equipment.
Government Guaranteed Lending
* Provided an $830,000 SBA 7(a) term loan facility to a Kentucky-based independent insurance agency, which will use the financing for acquisition and for working capital purposes.
* Provided a $2,486,250 term loan facility to a Colorado-based financial advisory firm, which will use the financing for acquisition purposes.
* Provided a $6.08 million term loan facility to a Washington-based insurance and financial services company, which will use the financing for acquisition and for working capital purposes.
