Crestmark Provides $41MM in Financing in H2/July

Crestmark provided more than $41 million in commercial financing to 69 businesses in the second half of July.

This included a total of $27.055 million in ABL financial solutions for 13 new clients; $4,673,558 in four new lease transactions from Crestmark Equipment Finance; $6,870,396 in 49 new lease transactions from Crestmark Vendor Finance; $1,369,370 for one new client from the Joint Ventures Division; and $2.010 million in financing for three new clients from the Government Guaranteed Lending Division.

Brief details of the transactions are:

Asset-Based Lending Divisions:

• $100,000 A/R purchase facility to a startup trucking company in North Carolina for working capital purposes

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• $1.5 million ledgered line of credit facility to an oil and gas services provider in Texas to pay off an existing lender and for working capital purposes

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• $10 million ledgered line of credit to a distributor of frozen foods in Florida to pay off an existing lender and for working capital purposes

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• $750,000 A/R purchase facility to a manufacturer of alloy components in Ohio d to pay off an existing lender and for working capital purposes

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• $800,000 A/R purchase facility to a trucking company in Georgia 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 North Carolina for working capital purposes

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• $3 million A/R purchase facility to a trucking company in Michigan to pay off an existing lender and for working capital purposes

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

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• $2 million ledgered line of credit to a manufacturer of packaging materials in California to pay off an existing lender and for working capital purposes

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• $5 million asset-based line of credit to a manufacturer of packaging materials in Ohio to pay off an existing lender and for working capital purposes

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• $1.5 million ledgered line of credit to a beverage distributor in Florida to pay off an existing lender and for working capital purposes

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• $400,000 A/R purchase facility to a trucking company in Arkansas for working capital purposes

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• $1 million A/R purchase facility and a $355,000 term loan to a manufacturer of custom signs in Michigan to pay off an existing lender and for working capital purposes

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Equipment Finance:

• $589,000 new lease transaction for a manufacturer of concrete aggregate in the southern U.S. for capital equipment

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• $1,267,115 new lease transaction for an oil and gas services provider in the southern U.S. for capital equipment

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• $537,273 new lease transaction for a trucking company in the southeastern U.S. for capital equipment

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• $2,280,170 new lease transaction for a web development company in the southeastern U.S. for capital equipment

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 Vendor Finance:

• $6,870,396 in 49 new lease transactions for 48 clients, including:

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• $554,778 new lease transaction for a medical services provider in the southeastern U.S. for fitness equipment

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• $459,046 new equipment finance transaction for a trucking company in the midwestern U.S. for trailers

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• Two new equipment finance transactions totaling $1,159,280 for an oil provider in the Great Lakes region of the U.S. for mobile fueling units

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• $1,036,951 new lease transaction for a drilling company in the southwestern U.S. for various equipment

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 Joint Ventures:

• $1,369,370 solar construction term loan to a solar developer in Vermont to install a 745 KW DC solar farm; at completion, the term loan will be refinanced with a $2,313,225 operating lease and will have a local school district as the offtaker

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 Government Guaranteed Lending:

• $250,000 SBA 7(a) term loan to a regional publication company in Colorado for acquisition purposes

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• $350,000 SBA 7(a) term loan to a health and wellness company in Virginia for acquisition purposes

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• $1.31 million SBA 7(a) term loan and a $100,000 SBA express line of credit to an HVAC company in Massachusetts for acquisition and for working capital purposes

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