Crestmark Secures $46.9MM in ABL/Factoring Solutions in H1/August

Crestmark, the commercial finance division of MetaBank, secured a total of $46.9 million in asset-based lending/factoring financial solutions for 16 new clients in the first half of August. In addition, Crestmark Equipment Finance provided $2,588,364 in four new transactions, Crestmark Vendor Finance provided $3,198,849 in 31 new transactions, Crestmark’s government guaranteed lending group provided $35.816 million in financing for three new clients and Crestmark’s joint ventures group provided $14.05 million in one new transaction.

Asset-Based Lending and Factoring

Crestmark provided the following accounts receivable facilities:

• $500,000 to a freight-all-kinds trucking company in Illinois

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

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• $500,000 to a freight-all-kinds trucking company in California

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• $350,000 to a trucking company in South Carolina

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• $250,000 to a general freight trucking company in Arkansas

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• $150,000 to a flatbed trucking company in Ohio

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• $150,000 to a trucking company in Texas

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• $150,000 to a regional trucking company in Georgia

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• $150,000 to a freight-all-kinds trucking company in Florida

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• $150,000 to a flatbed trucking company in Wyoming

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• $150,000 to a trucking company in Arkansas

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• $150,000 to a dry van transportation company in Michigan

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Crestmark also provided the following:

• A $5 million asset-based loan facility to a communications and networking equipment distributor in Missouri

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• A $750,000 ledgered line of credit facility to a staffing solutions company in California

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• A $20 million participation in a $58 million term loan to a skilled nursing healthcare facilities group in Florida

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• An $18 million participation in an $85 million term loan to a healthcare skilled nursing facilities group in Georgia

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Crestmark Vendor Finance Highlights

• An equipment finance transaction for a drilling company in the western U.S. for operational equipment

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• An equipment finance transaction for a transportation company in the southern U.S. for transport equipment

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• An equipment finance transaction for a transportation company in the western U.S. for transportation equipment

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• An equipment finance transaction for a trucking company in the southern U.S. for operational equipment

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Crestmark’s Government Guaranteed Lending Group

• Provided a $26 million term loan to a solar energy solutions company in North Carolina

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• Provided a $9.7 million term loan to a solar energy company in California

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• Provided a $116,000 SBA 7(a) loan to an insurance agency in Connecticut

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Crestmark’s Joint Ventures Group

• Provided a $14.05 million operating lease to a solar developer in Maryland

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