Crestmark Provides $11.7MM in ABL and Factoring Solutions in H1/Oct

Crestmark secured a total of $11.7 million in asset-based lending and factoring financial solutions for 13 new clients and Crestmark’s government guaranteed lending group provided $910,000 in financing for one new client in the first half of October. In addition, Crestmark Equipment Finance provided $6,086,672 in 23 new transactions and Crestmark Vendor Finance provided $4,050,096 in 39 new transactions.

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 $300,000 accounts receivable facility to a freight all kinds trucking company in Tennessee

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• A $300,000 accounts receivable facility to a refrigerated transport company in South Carolina

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

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

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

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

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

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• A $150,000 accounts receivable facility to a regional transportation company in North Carolina

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• A $100,000 accounts receivable facility to a refrigerated transport company in South Carolina

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• A $2 million asset-based lending facility to an industrial services contractor in Louisiana

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• A $3 million ledgered line of credit facility to a well servicing company in Michigan

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• A $2.5 million ledgered line of credit facility to a specialty chemicals provider in Texas

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• A $2.5 million ledgered line of credit facility to a ready-mix concrete supplier in Alabama

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Government guaranteed lending financial solutions to be used for various purposes, such as acquisition and working capital, included:

• A $910,000 SBA 7(a) loan to an independent insurance agency in Florida

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Crestmark Equipment Finance transactions included but were not limited to:

• An HVAC contracting company in the Midwestern U.S. for construction equipment

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Crestmark Vendor Finance transactions included but were not limited to:

• A transportation company in the Midwestern U.S. for transportation equipment

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• A fitness company in the Southeastern U.S. for fitness equipment

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• A medical company in the Southeastern U.S. for medical equipment

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• A recycling company in the southern U.S. for operational equipment

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