Crestmark Provides $45MM in Financing to 65 Clients

Crestmark closed more than $45 million in commercial financing transactions for 65 businesses in the second half of September 2019.

Those transactions included a total of $5,916,667 in ABL financial solutions for five new clients; $20,017,859 in 15 new lease transactions from Crestmark Equipment Finance; $5,101,432 in 46 new lease transactions from Crestmark Vendor Finance; $13,294,364 in financing for three clients from the Joint Ventures Division; and $740,000 in financing for one new client from the Government Guaranteed Lending Division.

Brief details of the transactions are:

Asset-Based Lending:

• $3,166,667 term loan for a printed electronics company in California to pay off an existing lender and for working capital purposes

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• $350,000 ledgered line of credit for a contract manufacturing company in Indiana for working capital purposes

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• $750,000 A/R purchase facility for a fueling services provider in Louisiana to pay off an existing lender and for working capital purposes

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• $400,000 A/R purchase facility for a trucking company in Colorado for working capital purposes

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• $1.25 million ledgered line of credit for a manufacturer of leather goods in Ohio to pay off an existing lender and for working capital purposes

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 Equipment Finance:

• $1,344,658 new lease transaction for a metal forming company in the midwestern U.S. for capital equipment

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• $9.304 million new lease transaction for a fuel cell company in the northeastern U.S. for capital equipment

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• $969,861 new lease transaction for a medical services provider in the northeastern U.S. for capital equipment

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• $504,662 new lease transaction for a medical services provider in the southern U.S. for capital equipment

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• $575,730 new lease transaction for an oilfield services company in the southern U.S. for capital equipment

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• Six new lease transactions totaling $3,490,914 for an energy solutions provider in the southeastern U.S. for capital equipment

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• $541,800 new lease transaction for an intermodal infrastructure services provider in the midwestern U.S. for capital equipment

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• $850,000 new lease transaction for a rental services company in the southeastern U.S. for capital equipment

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• $772,292 new lease transaction for a fitness club in the northeastern U.S. for capital equipment

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• $1,663,942 new lease transaction for a cable provider in the western U.S. for IT equipment

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 Vendor Finance:

• $5,101,432 in 46 new lease transactions

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Joint Ventures :

• $10 million ledgered line of credit for to a manufacturing company in Missouri for working capital purposes

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• $981,139 solar construction term loan for a manufacturing company in Rhode Island to install a 490 KW DC solar farm, which has a local utility as the offtaker. Once the construction of the solar farm is completed, the term loan will be refinanced with a 120-month operating lease.

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• $2,313,225 operating lease for a solar developer in Vermont for a 745 KW DC solar farm, which has a local school district as the offtaker

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Government Guaranteed Lending :

• $740,000 SBA 7(a) term loan for a medical imaging services company in Florida for acquisition and working capital purposes

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