Crestmark Provides Over $59.4MM to 82 Businesses in H2/December

In the last half December 2018, Crestmark secured a total of $27.55 million in ABL financial solutions for 11 new clients. Its Equipment Finance division provided more than $19.5 million in eight new lease transactions, while its Vendor Finance division provided nearly $4.8 million in 59 new lease transactions and the Government Guaranteed Lending Division provided $7.567 million in financing for four new clients.

Those transactions included:

In Crestmark’s asset-based lending division:

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

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

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• $2 million A/R purchase facility to an advertising and marketing company in Ontario, Canada for working capital purposes

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• $1.5 million A/R purchase facility to a trucking company in California to pay off an existing lender and for working capital purposes

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• $750,000 A/R purchase facility to a trucking company in California to pay off an existing lender and for working capital purposes

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• $100,000 A/R purchase facility to a trucking brokerage in California to pay off an existing lender and for working capital purposes

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• $7.5 million ledgered line of credit to a manufacturer and supplier of direct mail services in Pennsylvania to pay off an existing lender and for working capital purposes

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• $4.25 million asset-based line of credit to a manufacturer of paper products in Michigan to pay off an existing lender and for working capital purposes

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• $1 million A/R purchase facility was provided to a startup freight brokerage in Kentucky. The financing will be used for working capital purposes.

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

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• $9.75 million asset-based line of credit and a $250,000 term loan to a wholesale distributor of medical supplies in Florida to pay off an existing lender and for working capital purposes

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In Equipment Finance:

• $722,367 new lease transaction was completed with a software company in the western U.S. The financing will be used for IT equipment.

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• $703,431 new lease transaction for a software company in the western U.S. for IT equipment

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• $1.882258 million new lease transaction for a fitness center in the midwestern U.S. for capital equipment

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• $625,121 new lease transaction for an office space management company in the northeastern U.S. for IT equipment

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• $4.781864 million new lease transaction for a steel construction company in the southern U.S. for capital equipment

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• $1.771536 million new lease transaction for a technology services company in the midwestern U.S. for IT equipment

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• $3.625 million new lease transaction for a solar energy provider in the western U.S. for capital equipment

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• $5.487255 million new lease transaction for a real estate development company in the southwestern U.S. for capital equipment

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In Vendor Finance:

• $4,738,826 in 59 transactions.

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In Government Guaranteed Lending:

• $1.45 million SBA 7(a) term loan to a commercial and home restoration services franchisee in South Carolina for acquisition purposes

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• $4.192 million term loan to an investment advisory firm in Illinois to pay off an existing lender

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• $150,000 SBA 7(a) term loan to an investment advisory firm in Florida for working capital purposes

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• $1.775 million term loan to an investment advisory firm in California for acquisition purposes

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