Crestmark Provides $23.05MM in ABL/Factoring Solutions in January

Crestmark, the commercial finance division of MetaBank, secured a total of $23.05 million in asset-based lending and factoring financial solutions for 19 new clients and its structured finance group provided $11.266 million in financing for eight new clients in January. In addition, Crestmark Equipment Finance provided $21,489,603 in 17 new large-ticket transactions and $5,329,571 in 50 new small-ticket vendor transactions.

Crestmark provided the following working capital, asset-based lending and factoring financial solutions to be used for various purposes, such as working capital and to pay off existing lenders:

• A $15 million asset-based loan to an industrial manufacturing company in Iowa

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• A $750,000 accounts receivable facility to a dry van trucking company in California

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• A $500,000 accounts receivable facility to a flatbed trucking company in Oklahoma

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• A $250,000 accounts receivable facility to a refrigerated trucking company in Arizona

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

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

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

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

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

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

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• A $150,000 accounts receivable facility to a hot shot trucking company in Mississippi

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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 flatbed trucking company in Florida

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

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• A $150,000 accounts receivable facility to a freight-all-kinds trucking company in Ohio

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

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

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• A $2.5 million ledgered line of credit facility to a waste/recycling management company in Florida

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• A $2 million ledgered line of credit facility to an equipment supplier in Florida

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Crestmark’s structured finance group provided the following solutions to be used for various purposes, such as acquisition and working capital:

• A $2.615 million term loan to a wealth management firm in Ohio

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• A $2.26 million term loan to an investment advisory firm in Arizona

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• A $2.16 million SBA 7(a) loan to a restaurant franchisee in Michigan

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• A $1.73 million SBA 7(a) loan to a parts manufacturer in Michigan

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• A $1.25 million SBA 7(a) loan to a pellets supplier in Connecticut

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• A $575,000 SBA 7(a) loan to an independent insurance agency in Indiana

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• A $416,000 SBA 7(a) loan to a landscaping company in California

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• A $260,000 term loan to a wealth management firm in South Carolina

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Crestmark Equipment Finance’s transactions included:

• $4,010,926 to a hospital in the eastern United States for medical equipment

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• $3,848,886 to a manufacturer in the eastern United States for IT equipment

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• $3,631,842 to a lumber wholesaler in the southeastern United States for transportation equipment

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• $3,028,263 to a bank in the eastern United States for communication equipment

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• A small-ticket vendor equipment finance transaction with a fitness company in the Midwest for operational equipment

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• A small-ticket vendor equipment finance transaction with a delivery services company in the southern United States for transportation equipment

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• A small-ticket vendor equipment finance transaction with a trucking company in the eastern United States for transportation equipment

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• A small-ticket vendor equipment finance transaction with a chiropractic facility in the western United States for medical equipment

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• A small-ticket vendor equipment finance transaction with a dance company in the western United States for operational equipment

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• A small-ticket vendor equipment finance transaction with a transportation company in the southern United States for transportation equipment

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• A small-ticket vendor equipment finance transaction with an excavating company in the southern United States for transportation equipment

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• A small-ticket vendor equipment finance transaction with a freight carrier in the western United States for transportation equipment

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