Crestmark Provides $31MM+ in Financing in H2/March

Crestmark provided more than $31 million in commercial financing to 42 businesses in the second half of March 2019.

Those fundings included a total of $16 million in ABL financial solutions for 10 new clients, over $7.7 million in five new lease transactions from Crestmark Equipment Finance, more than $3.7 million in 28 new lease transactions from Crestmark Vendor Finance and $3.51 million in financing for one new client from the Government Guaranteed Lending Division.

Those transactions broke down through the following:

From Crestmark’s Asset-Based Lending Divisions:

• $150,000 A/R purchase facility to a trucking company in Florida for working capital purposes

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• $2.5 million A/R purchase facility to a produce wholesaler in Mississippi for working capital purposes

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• $1 million ledgered line of credit to an oilfield services provider in Texas for working capital purposes

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• $150,000 A/R purchase facility to a trucking company in Tennessee for working capital purposes

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• $250,000 A/R purchase facility to a trucking company in Indiana for working capital purposes

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• $7.5 million asset-based line of credit to a metal recycling company in Ohio for working capital purposes

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• $200,000 A/R purchase facility to a trucking company in Ohio for working capital purposes

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• $3 million ledgered line of credit to a telecommunications industry services provider for working capital purposes

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• $500,000 A/R purchase facility to a trucking company in Tennessee for working capital purposes

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• $750,000 A/R purchase facility to a trucking company in Texas to pay off an existing lender and for working capital purposes

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From Crestmark Equipment Finance:

• $3060,118 new lease transaction for a medical services provider in the southeastern U.S. for capital equipment

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• $774,015 new lease transaction for a fitness club in the northeastern U.S. for capital equipment

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• $1,003,145 new lease transaction for a pet products retailer in the southeastern U.S. for capital equipment

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• $1,459,320 new lease transaction for an insulated product manufacturer in the southern U.S. for capital equipment

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• $1.469 million new lease transaction for a staffing company in the northeastern U.S. for capital equipment

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From Crestmark Vendor Finance:

• $3,771,554 in 28 transactions to 26 businesses

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From the Crestmark Government Guaranteed Lending Division:

• $3.51 million SBA 7(a) term loan to a hospitality management company in Louisiana for acquisition purposes

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