Crestmark secured a total of $29,940,115 in asset-based lending financial solutions for 15 new clients and Crestmark Equipment Finance provided $21,737,910 in 14 new lease transactions in late January and early February. In addition, Crestmark Vendor Finance provided $4,717,776 in 50 new lease transactions, Crestmark’s joint ventures group provided $3,788,960 in one new transaction and Crestmark’s government guaranteed lending group provided $12,540,200 in financing for four new clients.
Crestmark’s Asset-Based Lending
- Provided a $2.5 million ledgered line of credit facility and a $450,000 term loan facility to a Michigan-based furniture manufacturer, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $500,000 ledgered line of credit facility to a Tennessee-based marine trailer manufacturer, which will use the financing for working capital purposes
- Provided a $3 million asset-based lending facility to a Wisconsin-based precision machining manufacturer, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $250,000 accounts receivable purchase facility to an Illinois-based refrigerated trucking company, which will use the financing for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a Nevada-based flatbed trucking company, which will use the financing for working capital purposes
- Provided a $400,000 accounts receivable purchase facility to a California-based refrigerated transportation company, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $1 million accounts receivable purchase facility to a Florida-based freight broker, which will use the financing for working capital purposes
- Provided a $400,000 accounts receivable purchase facility to an Alabama-based automotive parts transportation company, which will use the financing for working capital purposes
- Provided $500,000 (CAD) and $200,000 (USD) accounts receivable purchase facilities to an Ontario-based dry van freight-all-kinds trucking company, which will use the financing for working capital purposes
- Provided a $250,000 accounts receivable purchase facility to a Florida-based flatbed transportation company, which will use the financing for working capital purposes
- Provided a $10 million asset-based lending facility to a New Jersey-based online gift card marketplace provider, which will use the financing to pay off an existing lender
- Provided a $3 million ledgered line of credit facility to a Texas-based monitoring technology supplier, which will use the financing for working capital purposes
- Provided a $7 million asset-based lending facility to a Massachusetts-based lighting products manufacturer, which will use the financing for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a Georgia-based refrigerated trucking company, which will use the financing for working capital purposes
- Provided a $300,000 accounts receivable purchase facility to an Arkansas-based flatbed trucking company, which will use the financing for working capital purposes
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Crestmark Equipment Finance
- Completed a $1,203,147 new lease transaction with a facility support services provider in the western U.S. The financing will be used for capital equipment.
- Completed a $2,488,473 new lease transaction with a hospitality services company in the northeastern U.S. The financing will be used for capital equipment.
- Completed a $1,554,761 new lease transaction with an online retailer in the Midwest U.S. The financing will be used for capital equipment.
- Completed a $2,241,141 new lease transaction with an airline in the southern U.S. The financing will be used for transportation equipment.
- Completed an $849,864 new lease transaction with a communication services company in the southern U.S. The financing will be used for capital equipment.
- Completed a $508,132 new lease transaction with a concrete construction company in the western U.S. The financing will be used for capital equipment.
- Completed a $1,803,198 new lease transaction with a petroleum products wholesaler in the Midwest U.S. The financing will be used for capital equipment.
- Completed a $547,024 new lease transaction with a healthcare facility support provider in the western U.S. The financing will be used for IT equipment.
- Completed a $592,304 new lease transaction with a flooring products manufacturer in the northeastern U.S. The financing will be used for IT equipment.
- Completed two new lease transactions totaling $4,482,282 with an airline in the southeastern U.S. The financing will be used for transportation equipment.
- Completed a $2,250,076 new lease transaction with a footwear company in the Midwest U.S. The financing will be used for IT equipment.
- Completed a $1,467,833 new lease transaction with an HR administrative services provider in the Midwest U.S. The financing will be used for office equipment.
- Completed a $931,230 new lease transaction with a healthcare facility in the western U.S. The financing will be used for IT equipment.
- Completed an $818,445 new lease transaction with a marketing and business communications company in the Midwest U.S. The financing will be used for IT equipment.
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Crestmark Vendor Finance funded $4,717,776 in 50 new transactions in late January to early February. Some highlights include:
- A new equipment finance transaction with a plumbing company in the Midwest U.S. The financing will be used for operational equipment.
- A new equipment finance transaction with a short-haul transportation company in the Midwest U.S. The financing will be used for transportation equipment.
- An equipment finance transaction with a medical company in the northwestern U.S. The financing will be used for essential equipment.
- An equipment finance transaction with a medical company in the southwestern U.S. The financing will be used for essential equipment.
- An equipment finance transaction with a medical company in the Midwest U.S. The financing will be used for essential equipment.
- An equipment finance transaction with a transportation company in the southeastern U.S. The financing will be used for operational equipment.
- A new equipment finance transaction with a medical company in the western U.S. The financing will be used for medical equipment.
- A new equipment finance transaction with a wholesaler in the northeastern U.S. The financing will be used for capital equipment.
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Crestmark’s Joint Ventures group funded a $3,788,960 operating lease transaction for a solar developer in Maryland in the second half of January. The 1,393 kW-DC solar system, located in Minnesota, will be part of a state community solar program.
Crestmark’s Government Guaranteed Lending Group
- Provided a $1.58 million term loan facility to a Minnesota-based investment advisory firm, which will use the financing for acquisition purposes
- Provided a $1.87 million SBA 7(a) term loan facility to a Nebraska-based investment advisory firm, which will use the financing for acquisition purposes
- Provided a $4,531,200 term loan facility to a North Carolina-based solar developer, which will use the financing for working capital purposes
- Provided a $4,559,000 term loan facility to a North Carolina-based solar developer, which will use the financing for working capital purposes
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