Crestmark Secures $53.3MM in ABL and Factoring Solutions in H1/June

Crestmark, the commercial finance division of MetaBank, secured a total of $53.3 million in asset-based lending and factoring financial solutions for 17 new clients in the first half of June. In addition, Crestmark Equipment Finance provided $964,688 in two new transactions, Crestmark Vendor Finance provided $2,600,586 in 21 new transactions and Crestmark’s government guaranteed lending group provided $8.84 million in financing for two new clients.

Asset-Based Lending and Factoring

Accounts Receivable Facilities

• $150,000 to a refrigerated trucking company in Texas

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• $250,000 to a refrigerated trucking company in California

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• $100,000 to a trucking company in Indiana

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• $500,000 to a transportation company in Texas

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• $400,000 to a refrigerated trucking company in Ohio

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

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• $1 million to a freight-all-kinds trucking company in California

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• $15 million to a freight brokerage in Florida

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• $400,000 to a freight-all-kinds trucking company in Florida

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• $150,000 to a trucking company in Missouri

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• $650,000 to a transportation company in Florida

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

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• $500,000 to a transportation company in Texas

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Asset-Based Loan Facilities

• $6 million to a wholesale meat processor and distributor in California

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• $20 million to a cell phone manufacturing company in Florida

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• $5.4 million to a medical device manufacturer in South Dakota

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Ledgered Line of Credit Facilities

• $2.5 million to a freight services company in Tennessee

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Vendor Finance Highlights

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

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

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

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• An equipment finance transaction for a medical spa company in the midwestern U.S. for medical equipment

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Government Guaranteed Lending

• Provided a $440,000 SBA 7(a) loan to a printing services company in Florida

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• Provided a $8.4 million USDA Business and Industry loan to a hotel in Texas.

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