In the second half of February, Crestmark secured a total of $10,450,000 in asset-based lending financial solutions for five new clients. In addition, Crestmark Equipment Finance provided $15,950,106 in nine new lease transactions, Crestmark Vendor Finance provided $4,247,630 in 46 new lease transactions and the Government Guaranteed Lending Division provided a $1,680,000 term loan facility to a solar developer in California for capital expenditures.
Crestmark’s Asset-Based Lending Divisions
- On Feb. 18, a $1.5 million accounts receivable purchase facility was provided to a dry freight trucking company in California. The financing will be used for working capital purposes.
- A $200,000 accounts receivable purchase facility was provided to a FAK dry van trucking company in South Carolina on Feb. 19. The financing will be used for working capital purposes.
- On Feb. 19, a $6 million ledgered line of credit facility was provided to a truck brokerage company in Florida. The financing will be used for working capital purposes.
- A $750,000 accounts receivable purchase facility was provided to an oil and gas services company in Texas on Feb. 26. The financing will be used for working capital purposes.
- On Feb. 27, a $2 million capital lease facility was provided to an oil services company in Texas. The financing will be used for acquisition and working capital purposes.
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Crestmark Equipment Finance
- On Feb. 18, a $3,198,585 new lease transaction was completed with a computer programming service in the northeastern U.S. The financing will be used for IT equipment.
- A $1.13 million new lease transaction was completed with an acute healthcare provider in the northeastern U.S. on Feb. 19. The financing will be used for medical equipment.
- On Feb. 20, a $951,602 new lease transaction was completed with a petroleum product wholesaler in the midwestern U.S. The financing will be used for capital equipment.
- A $1,157,083 new lease transaction was completed with a network and communication service provider in the northeastern U.S. on Feb. 21. The financing will be used for networking equipment.
- A $1,083,373 new lease transaction was completed with an electronics health records company in the midwestern U.S. on Feb. 21. The financing will be used for IT equipment.
- On Feb. 21, a $3,142,815 new lease transaction was completed with an interior design company in the western U.S. The financing will be used for IT equipment.
- A $1,310,700 new lease transaction was completed with a mining company in the southern U.S. on Feb. 21. The financing will be used for construction equipment.
- On Feb. 26, a $1,480,238 new lease transaction was completed with an IT solutions provider in the midwestern U.S. The financing will be used for IT equipment.
- A $2,495,710 new lease transaction was completed with a construction company in the southern U.S. on Feb. 28. The financing will be used for construction equipment.
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Crestmark Vendor Finance funded $4,247,630 in 46 new lease transactions in the second half of February, including:
- On Feb. 19, a new equipment finance transaction was completed with a flooring company in the midwestern U.S. The financing will be used for capital equipment.
- On Feb. 20, an equipment finance transaction was completed with a transportation company in the northwestern U.S. The financing will be used for trailers.
- A new lease transaction was completed with a resort in the northeastern U.S. on Feb. 26. The financing will be used for IT equipment.
- On Feb. 28, a new equipment finance transaction was completed with a scaffolding installation company in the northeastern U.S. The financing will be used for capital equipment.
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