Crestmark secured a total of $16,993,300 in ABL financial solutions for 10 new clients in the second half of August. In addition, Crestmark Equipment Finance provided $11,387,492 in six new lease transactions, Crestmark Vendor Finance provided $10,647,040 in 132 new lease transactions and the government guaranteed lending group provided $6,869,300 in financing for four new clients.
Crestmark’s Asset-Based Lending
- Provided a $350,000 accounts receivable purchase facility to a California-based regional transportation company, which will use the financing for working capital purposes.
- Provided a $2.5 million ledgered line of credit facility to an Illinois-based locomotive and locomotive services supplier, which will use the financing to pay off an existing lender and for working capital purposes.
- Provided a $1,518,300 ledgered line of credit facility to an Alberta, Canada-based excavation and aggregate recycling company, which will use the financing for working capital purposes.
- Provided a $1 million ledgered line of credit facility to a Texas-based security services company, which will use the financing to pay off an existing lender and for working capital purposes.
- Provided a $350,000 accounts receivable purchase facility to a California-based freight all kinds trucking company, which will use the financing for working capital purposes.
- Provided a $450,000 asset-based line of credit facility to a Michigan-based medical services provider, which will use the financing for working capital purposes.
- Provided a $250,000 accounts receivable purchase facility to an Ohio-based trucking company, which will use the financing to pay off an existing lender and for working capital purposes.
- Provided a $75,000 accounts receivable purchase facility to an Alabama-based flatbed transportation company, which will use the financing for working capital purposes.
- Provided a $10 million asset-based line of credit facility to a Michigan-based precision machined components supplier, 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 an Illinois-based freight transportation company, which will use the financing for working capital purposes.
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Crestmark Equipment Finance
- Completed a $2,068,927 new lease transaction with a financial solutions provider in central Canada. The provider will use the financing for operational equipment.
- Completed a $1,179,935 new lease transaction with a furniture manufacturer in the southeastern U.S. The manufacturer will use the financing for transport equipment.
- Completed a $3,119,120 new lease transaction with an airline in the midwestern U.S. The airline will use the financing for IT equipment.
- Completed a $1,242,954 new lease transaction with a data service provider in the midwestern U.S. The provider will use the financing for IT equipment.
- Completed a $523,000 new lease transaction with a printing services provider in the midwestern U.S. The provider will use the financing for capital equipment.
- Completed a $3,253,556 new lease transaction with a marketing services provider in the northeastern U.S. The provider will use the financing for IT equipment.
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Crestmark Vendor Finance funded $10,647,040 in 132 new transactions in the second half of August. Some highlights include:
- An equipment finance transaction with a medical provider in the southwestern U.S. on Aug. 17. The provider will use the financing for essential equipment.
- An equipment finance transaction with a transportation company in the southeastern U.S. The company will use the financing for transportation equipment.
- A new equipment finance transaction with a construction company in the southcentral U.S. The company will use the financing for operational equipment.
- A new equipment finance transaction with a custom cabinet and millwork manufacturer in the southeastern U.S. The manufacturer will use the financing for operational machinery.
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Government Guaranteed Lending
- Provided a $2.52 million USDA business and industry loan facility to a South Carolina-based solar company, which will use the financing for working capital purposes.
- Provided a $1.55 million SBA 7(a) term loan facility to a California-based metal component manufacturer, which will use the financing for acquisition and working capital purposes.
- Provided a $2.675 million term loan facility to a Washington-based financial advisory firm, which will use the financing for acquisition purposes.
- Provided a $124,300 SBA 7(a) term loan facility to a Colorado-based independent insurance agency, which will use the financing for working capital purposes.
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