Crestmark secured a total of $11,018,800 in ABL financial solutions for seven new clients and Crestmark’s government guaranteed lending group provided $2.42 million in financing for two new clients in the second half of October. In addition, Crestmark Equipment Finance provided $3,759,627 in two new lease transactions and Crestmark Vendor Finance provided $6,249,333 in 73 new transactions.
Crestmark’s Asset-Based Lending
* Provided a $150,000 accounts receivable purchase facility to an Illinois-based dry van transportation company, which will use the financing for working capital purposes.
* Provided a $300,000 accounts receivable purchase facility to a California-based refrigerated freight all kinds transportation company, which will use the financing for working capital purposes.
* Provided a $150,000 accounts receivable purchase facility to a North Carolina-based dry van freight all kinds transportation company, which will use the financing for working capital purposes.
* Provided a $300,000 accounts receivable purchase facility to an Ohio-based freight broker, which will use the financing for working capital purposes.
* Provided a $1.5 million ledgered line of credit facility to a Texas-based custom sign manufacturer, which will use the financing for working capital purposes.
* Provided C$525,000 ($401,920) and $225,000 accounts receivable purchase facilities to an Ontario-based freight all kinds transportation company, which will use the financing for working capital purposes.
* Provided an $8 million asset-based lending facility to a Texas-based baby gear manufacturer in Texas, which will use the financing to pay off an existing lender and for working capital purposes.
Government Guaranteed Lending
* Provided a $1.22 million loan facility to a Pennsylvania-based investment advisory firm, which will use the financing for acquisition purposes.
* Provided a $1.2 million SBA 7(a) term loan facility to a Kansas-based investment advisory firm, which will use the financing for acquisition and for working capital purposes.
Crestmark Equipment Finance
* Completed a $2,067,100 new lease transaction with an expense management software company in the western U.S. The company will use the financing for IT equipment.
* Completed a $1,692,527 new lease transaction with an enterprise software services provider in the western U.S. The provider will use the financing for operational equipment.
Crestmark Vendor Finance funded $6,249,333 in 73 new transactions in the second half of October. Some highlights include:
* An equipment finance transaction with a transportation company in the southeastern U.S. The company will use the financing for transportation equipment.
* An equipment finance transaction with a produce farm in the midwestern U.S. The farm will use the financing for essential equipment.
* A new lease transaction with a healthcare provider in the northeastern U.S. The provider will use the financing for essential equipment.
* A new equipment finance transaction with a construction company in the southwestern U.S. The company will use the financing for operational equipment.
