Crestmark secured a total of $16,518,200 in asset-based lending/factoring financial solutions for 13 new clients in the first half of April. In addition, Crestmark Equipment Finance provided $6,616,982 in five new transactions and Crestmark Vendor Finance provided $5,846,027 in 63 new transactions.
Crestmark’s Asset-Based Lending and Factoring
- Provided a $500,000 accounts receivable purchase facility to a Florida-based staffing company, which will use the financing for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a Georgia-based freight-all-kinds trucking company, which will use the financing for working capital purposes
- Provided a $3 million ledgered line of credit facility to a Texas-based oilfield services company, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $1.6 million and C$400,000 ($326,510) ledgered line of credit facility to an Arkansas-based novelty product producer, which will use the financing to pay off an existing lender and for working capital purposes
- Provided a $1.5 million accounts receivable purchase facility to an Indiana-based freight broker, which will use the financing for working capital purposes
- Provided a $150,000 accounts receivable purchase facility to a North Carolina-based freight-all-kinds trucking company, which will use the financing for working capital purposes
- Provided a $300,000 accounts receivable purchase facility to a California-based freight-all-kinds trucking company, which will use the financing for working capital purposes
- Provided a $1 million ledgered line of credit facility to a South Carolina-based freight broker, which will use the financing for working capital purposes
- Provided a $250,000 accounts receivable purchase facility to a Nevada-based freight-all-kinds trucking company, which will use the financing for working capital
- Provided a $350,000 accounts receivable purchase facility to a Colorado-based flatbed trucking company, which will use the financing for working capital
- Provided a $300,000 accounts receivable purchase facility to a North Carolina-based refrigerated trucking company, which will use the financing for working capital
- Provided a $400,000 accounts receivable purchase facility to a California-based refrigerated trucking company, which will use the financing for working capital
- Provided a $5 million asset-based lending facility and a $1.7 million term loan facility to an Illinois-based precision component manufacturing company, which will use the financing to pay off an existing lender and for working capital purposes
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Crestmark Equipment Finance Highlights
- Completed a $2,510,541 new lease transaction with an internet provider in the western U.S. The internet provider will use the financing for networking equipment.
- Completed a $2,754,307 new lease transaction with a plastic products manufacturer in the midwestern U.S. The manufacturer will use the financing for capital equipment.
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Crestmark Vendor Finance Highlights
- Completed an equipment finance transaction with a medical company in the western U.S. The company will use the financing for a medical equipment.
- Completed an equipment finance transaction with a long-haul transportation company in the western U.S. The company will use the financing for tractors and trailers.
- Completed a new equipment finance transaction with a metal routing distributor in the southeastern U.S. The distributor will use the financing for roof panel machinery.
- Completed a new equipment finance transaction with a medical company in the western U.S. The company will use the financing for medical equipment.
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