In the first half of January, Crestmark secured a total of $26.375 million in ABL financial solutions for eight new clients, while Crestmark’s joint ventures division provided $7,133,080 in two new transactions and Crestmark’s government guaranteed lending group provided $9,855,500 in financing for three new clients. In addition, Crestmark Equipment Finance provided $6,596,344 in three new lease transactions and Crestmark Vendor Finance provided $4,833,777 in 41 new lease transactions in the first half of January.
Crestmark’s Asset-Based Lending
- Provided a $5 million asset-based lending facility to a Texas-based critical care provider, which will use the financing for working capital purposes.
- Provided a $20 million asset-based lending facility to a Texas-based engineering and management services provider, which will use the financing for working capital purposes.
- Provided a $150,000 accounts receivable purchase facility to a North Carolina-based refrigerated trucking company, which will use the financing for working capital purposes.
- Provided a $200,000 accounts receivable purchase facility to a Georgia-based flatbed transportation company, which will use the financing for working capital purposes.
- Provided a $250,000 accounts receivable purchase facility to a Tennessee-based driveaway operations company, which will use the financing for working capital purposes.
- Provided a $150,000 accounts receivable purchase facility to a Texas-based dry van trucking company, which will use the financing for working capital purposes.
- Provided a $500,000 accounts receivable purchase facility to an Ohio-based refrigerated trucking company, which will use the financing for working capital purposes.
- Provided a $125,000 accounts receivable purchase facility to a Texas-based general freight transportation company, which will use the financing for working capital purposes.
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Crestmark’s Joint Ventures division funded two operating lease transactions totaling $7,133,080 with a solar developer in Maryland in the first half of January. The solar systems, located in Minnesota, range in size from 1,368 kW-DC to 1,411 kW-DC and will be part of a state community solar program.
Crestmark’s Government Guaranteed Lending Group
- Provided a $2,828,400 term loan facility to a North Carolina-based solar developer, which will use the financing for construction purposes.
- Provided a 400,000 SBA 7(a) term loan facility to a California-based appliance accessories provider, which will use the financing for working capital purposes.
- Provided a $6,627,100 term loan facility to a North Carolina-based solar developer, which will use the financing for construction purposes.
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Crestmark Equipment Finance
- Completed a $636,562 new lease transaction with an IT solutions provider in the Midwestern U.S. The financing will be used for IT equipment.
- Completed a $4,116,110 new lease transaction with an energy company in the eastern U.S. The financing will be used for capital equipment.
- Completed a $1,843,672 new lease transaction with an aerospace company in the Midwestern U.S. The financing will be used for IT equipment.
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Crestmark Vendor Finance funded $4,833,777 in 41 new transactions in the first half of January. Some highlights include:
- An equipment finance transaction with a construction company in the Midwestern U.S. The financing will be used for essential equipment.
- An equipment finance transaction with a warehousing company in the Midwestern U.S. The financing will be used for operational equipment.
- A new equipment finance transaction with an irrigation company in the Midwestern U.S. The financing will be used for operational equipment.
- A new equipment finance transaction with a custom truck manufacturer in the northwestern U.S. The financing will be used for essential equipment.
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