Crestmark secured a total of $7.8 million in asset-based lending financial solutions for 10 new clients in the first half of May. In addition, Crestmark Equipment Finance provided $7,564,246 in four new lease transactions, Crestmark Vendor Finance provided $10,791,438 in 17 new lease transactions and Crestmark’s Joint Ventures Division provided $1,047,785 in financing for one new client.
Crestmark’s Asset-Based Lending Divisions
- Provided a $150,000 accounts receivable purchase facility to a dry freight trucking company in Georgia. The financing will be used for working capital purposes.
- Provided a $2.5 million accounts receivable purchase facility to a manufacturing materials distributor in Colorado. The financing will be used for working capital purposes.
- Provided a $450,000 accounts receivable purchase facility to a refrigerated transport company in California. The financing will be used to pay off an existing lender and for working capital purposes.
- Provided a $350,000 accounts receivable purchase facility to a freight all kind transport company in California. The financing will be used to pay off an existing lender and for working capital purposes.
- Provided a $150,000 accounts receivable purchase facility to a start-up freight brokerage in Illinois. The financing will be used for working capital purposes.
- Provided a $2 million accounts receivable purchase facility to a coffee brewery in Texas. The financing will be used for working capital purposes.
- Provided a $250,000 accounts receivable purchase facility to a dry freight trucking company in Missouri. The financing will be used to pay off an existing lender and for working capital purposes.
- Provided a $500,000 accounts receivable purchase facility to a drayage services provider in Texas. The financing will be used for working capital purposes.
- Provided a $1.3 million term loan facility to a heavy lifting and transportation services company in Texas. The financing will be used for working capital purposes.
- Provided a $150,000 accounts receivable purchase facility to a refrigerated transport company in Mississippi. The financing will be used for working capital purposes.
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Crestmark Equipment Finance
- Completed a $2,698,086 new lease transaction with an activewear distributor in the midwestern U.S. The financing will be used for operational equipment.
- Completed a $502,122 new lease transaction with a medical facility in the southwestern U.S. The financing will be used for medical equipment.
- Completed a $3,445,213 new lease transaction with a dairy distributor in the southeastern U.S. The financing will be used for transportation equipment.
- Completed a $918,825 new lease transaction with a commercial solutions and services provider in the southern U.S. The financing will be used for software.
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Crestmark Vendor Finance funded $10,791,438 in 17 new transactions in the first half of May. Some highlights include:
- An equipment finance transaction with a towing company in the southeastern U.S. The financing will be used for a vehicle.
- An equipment finance transaction with a farm in the south central U.S. The financing will be used for farming equipment.
- A new equipment finance transaction with a dental center in the northeastern U.S. The financing will be used for dental equipment.
- A new equipment finance transaction with a seafood company in the northwestern U.S. The financing will be used for operational equipment.
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Crestmark’s Joint Ventures Division
- Provided a $1,047,785 operating lease transaction to a solar developer in Massachusetts. The financing will be used to install a 299 kW-DC solar system in New Jersey, with a local private school as the offtaker.
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Crestmark, a division of MetaBank, provides asset-based lending, accounts receivable financing, lines of credit, term loans, factoring, government guaranteed lending, machinery/equipment financing and equipment leasing.
