Crestmark Tops $42.3MM in Funding to 112 Businesses in H2/Jan

Crestmark secured a total of $12 million in ABL financial solutions for nine new clients; Crestmark Equipment Finance provided $12,156,249 in 12 new lease transactions; Crestmark Vendor Finance provided $7,472,296 in 87 new lease transactions; the Joint Ventures Division provided $994,451 in financing for one client; and the Government Guaranteed Lending Division provided $9,747,000 in financing for seven new clients in the second half of January.

Brief details of the transactions are:

 Asset-Based Lending:

• $3 million ledgered line of credit facility to a food manufacturer in California to pay off an existing lender and for working capital purposes

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• $250,000 A/R purchase facility to a trucking company in California for working capital purposes

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• $1.5 million A/R purchase facility to a trucking company in Kentucky for working capital purposes

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• $150,000 A/R purchase facility to a trucking company in Maryland to pay off an existing lender and for working capital purposes

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• $150,000 A/R purchase facility to a startup trucking company in Michigan for working capital purposes

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• $4 million asset-based line of credit facility to a wholesale distributor of business office solutions in Florida to pay off an existing lender and for working capital purposes

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• $150,000 A/R purchase facility to a trucking company in Oregon for working capital purposes

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• $2.5 million asset-based line of credit facility to a wholesale equipment distributor in South Carolina to pay off an existing lender and for working capital purposes

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• $300,000 ledgered line of credit facility to a startup freight brokerage in Georgia for working capital purposes

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 Equipment Finance:

• Two new lease transactions totaling $1.988 million with a trucking company in the Southeastern U.S. for transportation equipment

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• $2.39 million new lease transaction with a food distributor in the Northeastern U.S. for transportation equipment

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• Two new lease transactions totaling $1.54 million with a fitness club in the Northeastern U.S. for fitness equipment

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• $519,528 new lease transaction with a health care provider in the Northeastern U.S. for medical equipment

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• $707,231 new lease transaction with a waste management company in the Midwestern U.S. for heavy equipment

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• Three new lease transactions totaling $2.46 million with a utility service provider in the Southeastern U.S. for transportation equipment

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• $1.79 million new lease transaction with a construction company in the Southern U.S. for heavy equipment

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• $750,960 new lease transaction with a rental services company in the Southeastern U.S. for capital equipment

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Crestmark Vendor Finance funded $7.47 million in 87 new lease transactions in the second half of January. Highlights include:

• A new equipment finance transaction with an equipment recovery company in the Southeastern U.S. for capital equipment

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• A new equipment finance transaction with a medical services provider in the Southern U.S. for capital equipment

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• An equipment finance transaction with an excavation company in the Northwestern U.S. for machinery

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• A new equipment finance transaction with a construction company in the Western U.S. for an excavator

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Joint Ventures:

• $994,451 operating lease transaction with a manufacturing company in Rhode Island to install a 496 KW DC solar system

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Government Guaranteed Lending:

• $3.16 million SBA 7(a) term loan facility to an independent insurance agency in Florida for acquisition and for working capital purposes

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• $140,000 SBA 7(a) term loan facility and a $160,000 express line of credit facility to a restaurant equipment supplier in Georgia to pay off an existing lender and for working capital purposes

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• $1.56 million term loan facility to a financial services franchisee in Ohio for acquisition and for working capital purposes.

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• $1.37 million term loan facility to a solar developer in North Carolina for working capital purposes.

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• $1.35 million SBA 7(a) term loan facility was provided to an independent insurance agency in New Jersey. The financing will be used for acquisition purposes.

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• $1.31 million SBA 7(a) term loan facility to a convenience store in California for acquisition purposes

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• $700,000 bridge loan facility to a hospitality company in Pennsylvania for acquisition purposes.

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