Crestmark secured a total of $48.85 million in asset-based lending and factoring financial solutions for 14 new clients and its government guaranteed lending group provided $2.255 million in financing for three new clients in the second half of May. In addition, Crestmark Equipment Finance provided $11,977,955 in 13 new transactions and Crestmark Vendor Finance provided $3,492,993 in 37 new transactions.
Crestmark’s Asset-Based Lending and Factoring
- Provided a $3 million ledgered line of credit facility to a Florida-based staffing company, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $500,000 accounts receivable purchase facility to a Kentucky-based trucking company, which will use the financing for working capital purposes
- Provided a $300,000 accounts receivable purchase facility to a Michigan-based flatbed trucking company, which will use the financing for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to an Arkansas-based dry van transportation company, which will use the financing for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a Florida-based dry van transportation company, which will use the financing for working capital purposes
- Provided a $200,000 accounts receivable purchase facility to a Georgia-based refrigerated trucking company, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a Florida-based trucking company, which will use the financing for working capital purposes
- Provided nine accounts receivable purchase facilities totaling $15 million to a California-based transportation group, which will use the financing for working capital purposes
- Provided a $10 million term loan facility to an Arkansas-based healthcare facilities group, which will use the financing for costs associated with an acquisition and for working capital
- Provided a $2 million accounts receivable purchase facility to an Illinois-based steel distributor, which will use the financing for working capital purposes
- Provided a $7 million asset-based line of credit facility to a Florida-based seafood wholesaler, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $400,000 accounts receivable purchase facility to an Indiana-based transportation company, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $5 million ledgered line of credit facility to a Texas-based seafood products provider, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $5 million accounts receivable purchase facility to an Illinois-based nationwide transportation company, which will use the financing to pay off an existing lender and for working capital purposes
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Crestmark’s Government Guaranteed Lending Group
- Provided a $145,000 SBA term loan facility to a Maryland-based printing services company, which will use the financing for acquisition purposes
- Provided a $1.63 million SBA 7(a) term loan facility to an Ohio-based investment advisory firm, which will use the financing for acquisition purposes
- Provided a $480,000 SBA 7(a) loan facility to a New Hampshire-based printing parts manufacturer, which will use the financing for acquisition purposes
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Crestmark Equipment Finance Highlights
- Completed a $2,458,775 new lease transaction with a state governmental agency in the southern U.S. The agency will use the financing for operational equipment.
- Completed a $2,240,861 new lease transaction with a petrochemical manufacturing company in the western U.S. The manufacturing company will use the financing for capital equipment.
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Crestmark Vendor Finance Highlights
- Completed a new equipment finance transaction with a transportation company in the southern U.S. The transportation company will use the financing for operational equipment.
- Completed a new equipment finance transaction with a dental laboratory in the southern U.S. The laboratory will use the financing for operational equipment.
- Completed an equipment finance transaction with an auto repair company in the northeastern U.S. The auto repair company will use the financing for operational equipment.
- Completed an equipment finance transaction with a medical company in the northeastern U.S. The medical company will use the financing for operational equipment.
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