Crestmark Completes $34.3MM in Financing in H2/October

Crestmark provided more than $34.3 million in commercial financing to 99 businesses in the second half of October 2019.

Those transactions included a total of $800,000 in ABL financial solutions for two new clients; $15,558,380 in 14 new lease transactions from Crestmark Equipment Finance; $9,586,873 in 88 new lease transactions from Crestmark Vendor Finance; and $8.355 million in financing for one new client from the Government Guaranteed Lending Division.

Brief details of the transactions are:

Asset-Based Lending:

• $500,000 A/R purchase facility for a startup freight brokerage in Florida for working capital purposes

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• $300,000 A/R purchase facility for a trucking company in California for working capital purposes

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 Government Guaranteed Lending :

• $8.355 million term loan for a financial services franchisee in Texas for acquisition purposes

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 Equipment Finance

• Five new lease transactions totaling $3,028,876 for a provider of construction and engineering services in the southeastern U.S. financing will be used for capital equipment

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• $3,001,360 new lease transaction for a pharmaceutical company in the northeastern U.S. for software

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• $1,094,870 new lease transaction for a network services provider in the southeastern U.S. for IT equipment$2,420,112 new lease transaction for a food manufacturer in the midwestern U.S. for capital equipment

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• $1,494,173 new lease transaction for a wholesaler and distributor of bulk oil in the midwestern U.S. for capital equipment

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• Two new lease transactions totaling $2,005,553 for a medical services provider in the midwestern U.S. for capital equipment

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• $639,000 new lease transaction for a rental services company in the southeastern U.S. for capital equipment

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• $1.1 million new lease transaction for a technology solutions provider in the midwestern U.S. for capital equipment

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• $774,436 new lease transaction for a fitness club in the northeastern U.S. for capital equipment

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Vendor Finance:

$9,586,873 in 88 new lease transactions for 87 businesses. Some highlights include:

• A new lease transaction for a laboratory in the midwestern U.S. for fitness equipment

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• A new equipment finance transaction for a logistics company in the midwestern U.S. for transportation equipment

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• A new equipment finance transaction for a hospitality company in the northeastern U.S. for IT equipment

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• A new equipment finance transaction for a sign manufacturer in the southeastern U.S. for capital equipment_x000D_
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