Crestmark Provides More than $35MM in Financing in H1/September

Crestmark provided more than $35 million in financing across four different divisions in the first half of September, 2018.

It secured a total of $14.4 million in ABL financial solutions with 17 transactions for 15 new clients. Crestmark Equipment Finance provided $2.968 million in four new lease transactions. Crestmark Vendor Finance provided $6.8 million in 73 new lease transactions, and the Government Guaranteed Lending division provided $10.866 million in financing for two new clients in the first half of September.

Those transactions included:

In the ABL division:

• 100,000 A/R purchase facility to a trucking company in South Carolina for working capital purposes

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• $2.25 million A/R purchase facility to a trucking brokerage in Tennessee to pay off an existing lender and for working capital purposes

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• $350,000 A/R purchase facility to a trucking company in New Mexico to pay off an existing lender and for working capital purposes

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• $300,000 Canadian ledgered line of credit and a $200,000 U.S. ledgered line of credit to a beverage distributor in Ontario, Canada for working capital purposes

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

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• $300,000 A/R purchase facility to a trucking company in Nebraskafor working capital purposes

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• $500,000 A/R purchase facility to a groundwater technology company in California for working capital purposes

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• $1.2 million term loan and a $1.5 million ledgered line of credit to a manufacturer of sanitary products in Virginia for working capital purposes

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• $1.5 million asset-based line of credit to a distributor of sanitary products in Virginia for working capital purposes

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• $600,000 A/R purchase facility to a trucking company in Iowa for working capital purposes

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• $1.5 million asset-based line of credit to a wholesale distributor of electrical products in Ohio for working capital purposes

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• $3 million ledgered line of credit to a trucking company in Minnesota to pay off an existing lender and for working capital purposes

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• $500,000 ledgered line of credit to a trucking brokerage in Minnesota for working capital purposes

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

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• $250,000 A/R purchase facility to a startup trucking brokerage in Virginia for working capital purposes

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In the Equipment Finance Division:

• $1.25 million new lease transaction for a food manufacturer in the southwestern U.S. for capital equipment

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• $529,913 new lease transaction for a manufacturing company in the western U.S. for capital equipment

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• $613,837 new lease transaction for a healthcare provider in the southwestern U.S. for capital equipment

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• $575,000 new lease transaction for a healthcare provider in the mid-western U.S. for capital equipment

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In the Vendor Finance division, $6.8 million in 73 transactions

In the Government Guaranteed Lending division:

• $7.5 million solar construction term loan to a solar energy provider in Minnesota, which will be used to pay off an existing lender. Once the construction of the 6.5 MW DC utility-scale solar farm is completed, the term loan will be refinanced by a $9.25 million USDA Business & Industry permanent debt loan for a 25-year term and with an energy company as the off-taker

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• $3.366 million term loan to an investment advisory firm in Massachusetts to pay off an existing lender

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