Crestmark provided more than $29.3 million in commercial financing to 50 businesses in the first half of July 2019.
Those transaction included $13.3 million in ABL financial solutions; $9,412,769 in six new lease transactions from Crestmark Equipment Finance; $3,414,574 in 34 new lease transactions from Crestmark Vendor Finance; $2,295,821 for one new client from the Joint Ventures Division; and $895,000 in financing for one new client from the Government Guaranteed Lending Division.
Brief details of the transactions are:
Asset-Based Lending :
- $2 million A/R purchase facility to a staffing company in Illinois for working capital purposes
- $400,000 A/R purchase facility to a trucking company in Ohio for working capital purposes
- $1.5 million ledgered line of credit to a freight brokerage in Illinois for working capital purposes
- $1.5 million ledgered line of credit to an electrical services provider to the oil and gas industry in Colorado to pay off an existing lender and for working capital purposes
- $1.5 million A/R purchase facility to a startup trucking company in Arkansas for working capital purposes
- $150,000 A/R purchase facility to a trucking company in Michigan for working capital purposes
- $500,000 A/R purchase facility to a trucking company in California for working capital purposes
- $1 million ledgered line of credit to a contract packaging company in Texas for working capital purposes
- $4.75 million asset-based line of credit to a roll forming manufacturer in Michigan to pay off an existing lender and for working capital purposes
_x000D_
_x000D_
_x000D_
_x000D_
_x000D_
_x000D_
_x000D_
_x000D_
_x000D_
Equipment Finance:
- $943,950 new lease transaction for a medical services provider in the southwestern U.S. for capital equipment
- $998,045 new lease transaction for a medical services provider in the northeastern U.S. for capital equipment
- $4,989,512 new lease transaction for a logistics company in the midwestern U.S. for capital equipment
- Two new lease transactions totaling $1,344,529 for a utility contractor in the midwestern U.S. for capital equipment
- $1,136,733 new lease transaction for a chemical manufacturer in the southern U.S. for capital equipment
_x000D_
_x000D_
_x000D_
_x000D_
_x000D_
Vendor Finance
- $3,414,574 in 34 new lease transactions
_x000D_
Joint Ventures:
- $2,295,821 120-month operating lease transaction for a solar developer in Vermont to install a solar farm
_x000D_
Government Guaranteed Lending:
- $895,000 SBA 7(a) term loan to a property management firm in Colorado for acquisition and for working capital purposes
_x000D_