In the first half of November 2018, Crestmark secured a total of $3.55 million in ABL financial solutions for six new clients; provided $12.095622 million in four new lease transactions; provided $6.7 million in 75 new lease transactions; and provided $900,000 in financing for one new Government Guaranteed Lending client.
Those transactions included:
In the ABL division:
- $150,000 A/R purchase facility to a startup trucking company in Montana for working capital purposes
- $2.5 million ledgered line of credit to a heavy equipment company that services the oil and gas industry in Texas to pay off an existing lender and for working capital purposes
- $300,000 A/R purchase facility to a trucking company in Ohio for working capital purposes
- $200,000 A/R purchase facility to a startup trucking company in Oklahoma for working capital purposes
- $250,000 A/R purchase facility to a trucking company in Louisiana for working capital purposes
- $150,000 A/R purchase facility to trucking company in Illinois for working capital purposes
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In the Equipment Finance division:
- $2.505967 million new lease transaction for a pharmaceutical company in the northeastern U.S. for software
- $7.195743 million new lease transaction for an oil and gas services company in the midwestern U.S. for capital equipment
- $942,214 new lease transaction for an oil and gas services company in the eastern U.S. for capital equipment
- $1.451698 million new lease transaction for a Fortune 500 company in the midwestern U.S. for IT equipment
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In the Government Guaranteed Lending division:
- $900,000 term loan to an investment advisory firm in New Hampshire for acquisition purposes
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Crestmark Vendor Finance also funded $6.7 million in 75 transactions.
