Crestmark Tops $32.5MM in Financing in H2/November

Crestmark provided more than $32.5 million in commercial financing to 95 businesses in the second half of November 2019.

This included a total of $6.4 million in ABL financial solutions for seven new clients; $8,866,343 in seven new lease transactions from Crestmark Equipment Finance; $6,374,126 in 81 new lease transactions from Crestmark Vendor Finance; and $10,875,000 in financing for two new clients from the Government Guaranteed Lending Division.

The transactions included:

 Asset-Based Lending :

• $500,000 A/R  facility for a startup trucking company in Minnesota for working capital purposes

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• $1.9 million A/R facility for to a trucking company in Washington for working capital purposes

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

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• $500,000 A/R  facility for a trucking company in Nevada for working capital purposes

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• $200,000 A/R  facility for a trucking company in California working capital purposes

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

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• $3 million ABL line of credit facility for a screen-printing company in Washington to pay off an existing lender and for working capital purposes

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Equipment Finance:

• Three new lease transactions totaling $2,628,464 for an energy management company in the midwestern U.S. for IT equipment

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• $1,887,276 new lease transaction for a cable provider in the western U.S. for IT equipment

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• $1,126,134 new lease transaction for an IT solutions provider in the midwestern U.S. for IT equipment

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• $624,203 new lease transaction for a ski resort in the western U.S. for capital equipment

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• $2,600,266 new lease transaction for an energy company in the southeastern U.S. for capital equipment

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Vendor Finance:

• A new equipment finance transaction for a land clearing company in the southeastern U.S. for heavy equipment

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• A new equipment finance agreement for a landscaping and garden supply company in the northeastern U.S. to pay off an existing lender

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• A new lease agreement for a warehousing company in the northeastern U.S. for machinery

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• A new equipment finance transaction for an equipment rental company in the western U.S. for heavy equipment

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Government Guaranteed Lending:

• $9.55 million USDA Business & Industry loan facility for a hospitality management company in Georgia for working capital purposes

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• $1.325 million term loan for a financial services franchisee in California to pay off an existing lender and for working capital purposes

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