Crestmark Equipment Finance provided $14.4 million in four new lease transactions, Crestmark Vendor Finance provided $21 million in 273 new lease transactions, Crestmark’s Government Guaranteed Lending group provided $6.2 million in financing for three new clients and Crestmark secured a total of $16.4 million in ABL financial solutions for 14 new clients in the second half of June.
Crestmark Equipment Finance
- Provided a $4.17 million new lease transaction with a natural energy producer in the northeastern U.S. for capital equipment.
- Provided a $3.45 million new lease transaction with a manufacturer of recycled paper in the northeastern U.S. for operational equipment.
- Provided a $5.27 million new lease transaction with an engineering and technical services provider in the eastern U.S. for construction equipment.
- Provided a $1.46 million new lease transaction with an automotive components manufacturer in the midwestern U.S. for operational equipment.
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Crestmark Vendor Finance funded $21 million in 273 new transactions in the second half of June. Some highlights include:
- An equipment finance transaction with a trucking company in the northwestern U.S. for transportation equipment.
- An equipment finance transaction with a medical practice in the northwestern U.S. for medical equipment.
- A new equipment finance agreement with a food manufacturer in the northeastern U.S. for essential equipment.
- A new equipment finance transaction with a luxury cinema in the Great Plains for food service equipment.
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Government Guaranteed Lending
- Provided a $1.22 million SBA 7(a) term loan facility to an asset management firm in New Hampshire to refinance existing debt and for working capital purposes.
- Provided a $3.9 million SBA 7(a) term loan facility to a financial advisory firm in Virginia for asset acquisition and to refinance existing debt.
- Provided a $1.05 SBA 7(a) term loan facility to an independent insurance agency in Alabama for a partner buyout and for working capital purposes.
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Crestmark’s Asset-Based Lending
- Provided a $10 million ledgered line of credit facility to a wholesaler of consumer electronics in Florida for working capital purposes.
- Provided a $2.5 million ledgered line of credit facility to a consumer snack food distributor in Illinois for working capital purposes.
- Provided a $150,000 accounts receivable purchase facility to a flatbed trucking company in Texas for working capital purposes.
- Provided a $1.75 million ledgered line of credit facility to a sheet metal components manufacturer in Pennsylvania to pay off an existing lender and for working capital purposes.
- Provided a $366,610 ledgered line of credit facility to an HVAC parts and tools manufacturing and distribution company in Ontario to pay off an existing lender and for working capital purposes.
- Provided a $150,000 accounts receivable purchase facility to a dry van transport company in Ohio for working capital purposes.
- Provided a $200,000 accounts receivable purchase facility to a nationwide dry van trucking company in Illinois. The company will use the financing for working capital purposes.
- Provided a $100,000 accounts receivable purchase facility to a startup trucking company in Ohio for working capital purposes.
- Provided a $150,000 accounts receivable purchase facility to a freight all kind transport company in Missouri for working capital purposes.
- Provided a $200,000 accounts receivable purchase facility to a flatbed trucking company in Massachusetts to pay off an existing lender and for working capital purposes.
- Provided a $150,000 accounts receivable purchase facility to a trucking company in Ohio to pay off an existing lender and for working capital purposes.
- Provided a $300,000 accounts receivable purchase facility to a dry van and refrigerated transport company in Minnesota for working capital purposes.
- Provided a $250,000 accounts receivable purchase facility to a regional trucking company in Georgia to pay off an existing lender and for working capital purposes.
- Provided a $150,000 accounts receivable purchase facility to a flatbed transportation company in Massachusetts to pay off an existing lender and for working capital purposes.
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