Crestmark secured a total of $6.973 million in ABL financial solutions for four new clients, Crestmark Equipment Finance provided $18,189,322 in eight new lease transactions and Crestmark’s government guaranteed lending group provided $2.215 million in financing for two new clients in the first half of September.
Crestmark’s Asset-Based Lending
- Provided a $150,000 accounts receivable purchase facility to a Florida-based transportation company, which will use the financing for working capital purposes.
- Provided a $300,000 accounts receivable purchase facility to an Illinois-based staffing services company, which will use the financing to pay off an existing lender and for working capital purposes.
- Provided a $1.523 million ledgered line of credit facility to a loading and conveyance systems manufacturer in Ontario, Canada. The manufacturer will use the financing to pay off an existing lender and for working capital purposes.
- Provided a $5 million ledgered line of credit facility to a California-based developer of monitoring and healthcare devices, which will use the financing for working capital purposes.
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Crestmark Equipment Finance
- Completed a $1,082,049 new lease transaction with a managed service provider in the midwestern U.S. The provider will use the financing for IT equipment.
- Completed a $1,656,908 new lease transaction with a medical services provider in the northeastern U.S. The provider will use the financing for medical equipment.
- Completed a $590,895 new lease transaction with a railroad equipment manufacturer in the southern U.S. The manufacturer will use the financing for operational equipment.
- Completed a $6,241,359 new lease transaction with an airline in the southern U.S. The airline will use the financing for IT equipment.
- Completed a $4.7 million new lease transaction with a food distributor in the midwestern U.S. The distributor will use the financing for operational equipment.
- Completed a $955,744 new lease transaction with an energy management company in the midwestern U.S. The company will use the financing for IT equipment.
- Completed a $1,352,952 new lease transaction with a telecommunications company in the northwestern U.S. The company will use the financing for operational equipment.
- Completed a $1,609,415 new lease transaction with a global manufacturing company in the midwestern U.S. The company will use the financing for IT equipment.
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Government Guaranteed Lending
- Provided a $1.35 million SBA 7(a) term loan facility to a Texas-based independent insurance agency, which will use the financing for acquisition purposes.
- Provided a $865,000 SBA 7(a) term loan facility to a Texas-based independent insurance agency, which will use the financing for acquisition purposes.
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