Crestmark provided more than $81.5 million in commercial financing to 82 businesses in the second half of June. The asset-based lending and factoring financial solutions are to be used for various purposes such as working capital and to pay off an existing lender.
King Trade Capital provided a food products company with a $5 million import finance facility with an accordion feature to expand to $10 million. The company had previously worked with King Trade Capital 12 years ago.
Gateway Trade Funding funded a purchase order financing facility for Trew Gear, an outdoor clothing company. The PO financing from Gateway provided Trew Gear the funds to grow its wholesale business without affecting its online efforts.
Bridge Bank’s Boston-based technology banking group extended a $5 million monthly recurring revenue line of credit to One Medical Passport, a provider of software that helps ambulatory surgery centers and hospitals streamline their systems.
LSQ, a provider of working capital solutions, originated two facilities totaling $4.75 million for an existing client. The client is a Pennsylvania-based marketing agency which required sufficient cash to execute the acquisition of a business that would expand its capabilities.
Alterna Capital Solutions supported a deal origination for a lower middle-market private equity fund controlled by its affiliate, Alterna Equity Partners. The fund focuses on control and non-control investments in companies with $1 million to $10 million in EBITDA.