Crestmark Delivers $13.6MM in ABL/Factoring Solutions in November

Crestmark, the commercial finance division of MetaBank, secured a total of $13.6 million in asset-based lending and factoring financial solutions for 23 new clients in November.

In addition, Crestmark Equipment Finance provided $24,804,003 in 29 new transactions, Crestmark Vendor Finance provided $9,938,833 in 76 new transactions, Crestmark’s government guaranteed lending group provided $8.195 million in financing for three new clients and Crestmark’s joint ventures group provided $1,007,250 in one new transaction.

Asset-Based Lending and Factoring financial solutions to be used for various purposes, such as working capital and to pay off existing lenders, included:

• A $2 million accounts receivable facility to a refrigerated transport company in California

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• A $1 million accounts receivable facility to a freight all kinds trucking company in Illinois

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• A $1 million accounts receivable facility to an integrated solutions provider in Texas

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• A $750,000 accounts receivable facility to a freight all kinds trucking company in Nebraska

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• A $500,000 accounts receivable facility to a dry and refrigerated trucking company in Nova Scotia

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• A $500,000 accounts receivable facility to an automotive parts distributor in Michigan

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• A $300,000 accounts receivable facility to a materials transport company in Texas

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• A $300,000 accounts receivable facility to a transportation company in Ohio

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• A $250,000 accounts receivable facility to a refrigerated freight all kinds trucking company in Massachusetts

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• A $250,000 accounts receivable facility to an intermodal transportation company in Georgia

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• A $200,000 accounts receivable facility to a dry van trucking company in Texas

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• A $200,000 accounts receivable facility to a freight all kinds trucking company in Texas

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• A $150,000 accounts receivable facility to a power-only trucking company in Alabama

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• A $150,000 accounts receivable facility to a dry van trucking company in Colorado

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• A $150,000 accounts receivable facility to a power-only trucking company in Washington, D.C.

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• A $150,000 accounts receivable facility to a trucking company in Texas

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• A $150,000 accounts receivable facility to a dry van trucking company in Idaho

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• A $150,000 accounts receivable facility to a trucking company in Georgia

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• A $150,000 accounts receivable facility to a regional trucking company in South Carolina

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• A $150,000 accounts receivable facility to a flatbed trucking company in Florida

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• A $150,000 accounts receivable facility to a trucking company in Maryland

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• A $3 million ledgered line of credit facility to a lighting manufacturer in Texas

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• A $2 million ledgered line of credit facility to a staffing services company in California

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Crestmark Equipment Finance transactions included but were not limited to:

• $2,776,526 to a government agency in the eastern United States for IT equipment

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• $5,264,228 to a linen supply company in the eastern United States for transportation equipment

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• $2,605,551 to a telecommunications company in the Midwestern United States for networking equipment

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• $2,654,902 to a financial services company in the eastern United States for communications equipment

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Crestmark Vendor Finance equipment finance transactions included but were not limited to:

• A fitness company in the southern United States for fitness equipment

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• A laser company in the southern United States for operational equipment

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• A millwork company in the southern central United States for machinery

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• A trucking company in the southern central United States for transportation equipment

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• A sod company in the southern United States for operational equipment

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• A timber transport company in the southern United States for transportation equipment

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• A medical company in the western central United States for operational equipment

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• A trucking company in the southeastern central United States for transportation equipment

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Crestmark’s government guaranteed lending group provided:

• A $7.425 million term loan to a solar company in California

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• A $420,000 SBA 7(a) loan to a welding and fabrication company in Arizona

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• A $350,000 SBA 7(a) loan to an independent insurance agency in Idaho

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Crestmark’s joint ventures group provided a $1,007,250 operating lease to a solar developer in New York.