Crestmark secured a total of $20.25 million in asset-based lending financial solutions for seven new clients in the first half of March. In addition, Crestmark Equipment Finance provided $13.76 million in six new lease transactions, Crestmark Vendor Finance provided $5.5 million in 52 new lease transactions and the company’s Government Guaranteed Lending Division provided $9.9 million in financing for five new clients.
Crestmark’s Asset-Based Lending Divisions
- On Mar. 2, a $500,000 accounts receivable purchase facility was provided to a specialized oversized-load transportation in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
- A $250,000 accounts receivable purchase facility was provided to a dry van transportation company in Washington on Mar. 3. The financing will be used for working capital purposes.
- On Mar. 4, a $1,000,000 ledgered line of credit facility was provided to a staffing company in California. The financing will be used for working capital purposes.
- A $1 million ledgered line of credit facility was provided to a metal products manufacturer in Indiana. The financing will be used to payoff an existing lender and for working capital purposes.
- A $12.5 million ledgered line of credit facility was provided to a water management services provider in Texas on Mar. 9. The financing will be used to pay off an existing lender and for working capital purposes.
- On Mar. 9, a $2 million line of credit facility was provided to a prepaid card services provider in California. The financing will be used for working capital purposes.
- A $3 million ledgered line of credit facility was provided to an oil & gas industrial services provider in Texas on Mar.11. The financing will be used to payoff an existing lender and for working capital purposes.
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Crestmark Equipment Finance
- On Mar. 3, a $1,237,436 new lease transaction was completed with a manufacturing company in the midwestern U.S. The financing will be used for capital equipment.
- A $1,155,874 new lease transaction was completed with an outsourcing technology services provider in the southern U.S. on Mar. 3. The financing will be used for capital equipment.
- On Mar. 5, a $757,540 new lease transaction was completed with a fitness center in the eastern U.S. The financing will be used for fitness equipment.
- A $8,780,173 new lease transaction was completed with a thermal coal producer in the midwestern U.S. on Mar. 6. The financing will be used for capital equipment.
- On Mar. 11, a $1,230,783 new lease transaction was completed with a produce distributor in the eastern U.S. The financing will be used for trucks.
- A $601,214 new lease transaction was completed with an intermodal solutions provider in the midwestern U.S. on Mar. 12. The financing will be used for capital equipment.
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Crestmark Vendor Finance highlights include:
- On Mar. 2, a new equipment finance transaction was completed with a logistics company in the western U.S. The financing will be used for trailers.
- A new equipment finance transaction was completed with a physician in the northeastern U.S. on Mar. 9. The financing will be used for capital equipment.
- On Mar. 11, a new equipment finance transaction was completed with a construction company in the western U.S. The financing will be used for a yard dump truck.
- A new equipment finance transaction was completed with a limousine company in the northeastern U.S. on Mar.13. The financing will be used for new vehicle.
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The Government Guaranteed Lending Division
- On Mar. 4, a $4.175 million SBA 7(a) term loan facility was provided to a structural framing developer in New Jersey. The financing will be used for working capital purposes.
- A $3.825 million Crestmark term loan facility was provided to a wealth management services company in Connecticut on Mar. 9. The financing will be used for acquisition and for working capital purposes.
- On Mar. 10, a $150,000 SBA 7(a) term loan facility was provided to an investment management company in California. The financing will be used for working capital purposes.
- A $1.6 million Crestmark term loan facility was provided to a financial advisory firm in Ohio on Mar. 12. The financing will be used for acquisition and working capital purposes.
- On Mar. 12, a $150,000 SBA 7(a) term loan facility was provided to a property damage restoration company in Florida. The financing will be used for working capital purposes.
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