Crestmark Provides More Than $81.5MM in Commercial Financing to 82 Businesses in H2/June

Crestmark, the commercial finance division of MetaBank, secured a total of $18,746,500 in ABL/factoring financial solutions for 17 new clients; Crestmark Equipment Finance provided $20,200,221 in 13 new transactions; Crestmark Vendor Finance provided $3,641,406 in 42 new transactions; the Government Guaranteed Lending group provided $28,666,000 in financing for six new clients; and the Joint Ventures group provided $10,256,840 in four new transactions in the second half of June.

Asset-based lending and factoring financial solutions to be used for various purposes such as working capital and to pay off an existing lender included:

Accounts Receivable facilities:

• $2,000,000 to a freight-all-kinds trucking company in Kentucky.

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• $1,500,000 to a refrigerated trucking company in California.

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• $1,000,000 to a tools supply company in Texas.

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• $750,000 to a refrigerated transportation company in Arkansas.

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• $500,000 to a transportation company in North Carolina.

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• $300,000 to a trucking company in California.

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• $250,000 to a transportation company in Arizona.

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• $250,000 to a nationwide transportation company in California.

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• $200,000 to a power-only carrier in Missouri.

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• $150,000 to a trucking company in Florida.

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• $150,000 to a refrigerated trucking company in Wisconsin.

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• $150,000 to a dry van trucking company in Pennsylvania.

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• $150,000 to a trucking company in Michigan.

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• $150,000 to a dry van trucking company in Florida.

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Ledgered Line of Credit facilities:

• $8,000,000 to a consumer and industrial goods manufacturer in Pennsylvania.

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• $2,000,000 to an advanced technology manufacturer in California.

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• $1,300,000 (CAD) and $200,000 (USD) to a transportation company in Ontario Canada.

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Equipment Finance transactions included, but were not limited to:

• A government agency in the eastern U.S. for IT equipment.

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• A machinery manufacturer in the northeastern U.S. for capital equipment.

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• A nutrition company in the midwestern U.S. for capital equipment.

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• A sporting goods retailer in the midwestern U.S. for capital equipment.

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Vendor Finance equipment finance transactions included, but were not limited to:

• An industrial company in the southwestern U.S. for transportation equipment.

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• A trucking company in the midwestern U.S. for transportation equipment.

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• A drilling and blasting company in the southwestern U.S. for transportation equipment.

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• A medical company in the western U.S. for medical equipment.

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Government Guaranteed Lending financial solutions, to be used for various purposes such as acquisition, working capital, and more included:

• $10,000,000 term loan to a renewable energy company in California.

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• $9,025,000 term loan to a solar developer in Missouri.

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• $5,000,000 SBA 7(a) loan and $200,000 conventional loan to a hospitality company in Texas.

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• $3,400,000 term loan to a solar developer in Pennsylvania.

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• $790,000 SBA 7(a) loan to an automotive services company in California.

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• $251,000 conventional loan to an independent insurance agency in Kentucky.

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Joint Ventures financial solutions included:

• Two operating leases totaling $6,656,840 to a solar developer in Maryland.

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• $2,830,000 term loan to a lumber producer in Michigan.

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• $770,000 operating lease to a solar developer in New York.

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