Crestmark Secures More Than $29MM in ABL Solutions in H2/July

Crestmark secured a total of $29,152,900 in asset-based lending solutions for seven new clients, Crestmark Equipment Finance provided $7,765,608 in five new lease transactions, Crestmark’s Joint Ventures division provided $4,104,958 in financing to two new clients and Crestmark’s Government Guaranteed Lending group provided $45,341,886 in financing for nine new clients in the second half of July.

Crestmark’s Asset-Based Lending

• Provided a $5,102,900 ledgered line of credit facility to a transportation company in Ontario, Canada. The company will use the financing to pay off an existing lender.

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• Provided a $350,000 accounts receivable purchase facility to a Mississippi-based transportation company, which will use the facility for working capital purposes.

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• Provided a $1.5 million accounts receivable purchase facility to a Tennessee-based freight brokerage, which will use the financing for working capital purposes.

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• Provided a $200,000 accounts receivable purchase facility to a Florida-based freight all kinds transportation company, which will use the financing for working capital purposes.

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• Provided a $2 million ledgered line of credit facility to a Michigan-based prescription drug wholesaler, which will use the financing to pay off an existing lender and for working capital purposes.

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• Provided a $2 million ledgered line of credit facility to a Louisiana-based well abandonment services company, which will use the financing to pay off an existing lender and for working capital purposes.

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• Provided an $18 million asset-based lending facility to a Colorado-based nationwide transportation company, which will use the financing to pay off an existing lender.

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Crestmark Equipment Finance

• Completed a $2,327,172 new lease transaction with a manufacturer in the Midwest. The manufacturer will use the financing for networking equipment.

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• Completed two new lease transactions totaling $1,719,653 with an IT solutions provider in the Southwest. The provider will use the financing for IT equipment.

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• Completed a $1,789,337 new lease transaction with an automotive stamping manufacturer in the Midwest. The manufacturer will use the financing for capital equipment.

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• Completed a $1,929,446 new lease transaction with a healthcare payment solutions provider in the Southeast. The provider will use the financing for IT equipment.

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Crestmark’s Joint Ventures Division

• Provided a $354,958 operating lease transaction to a Massachusetts-based solar developer, which will use the financing to install a 101 kW-DC solar system in New Jersey.

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• Provided a $3.75 million construction loan facility to a Connecticut-based solar developer, which will use the financing to build a 2560 kW-DC solar system in Illinois.

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Government Guaranteed Lending

• Provided a $4.2 million construction loan facility to a California-based solar developer, which will use the financing for working capital purposes.

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• Provided a $350,000 SBA 7(a) term loan facility to a Florida-based independent restaurateur, who will use the financing for acquisition and working capital purposes.

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• Provided a $14,724,500 construction loan facility to a New Hampshire-based solar developer, which will use the financing for working capital purposes.

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• Provided a $1.55 million term loan facility to an Idaho-based financial advisory firm, which will use the financing to pay off an existing lender and for working capital purposes.

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• Provided a $3.85 million construction loan facility to a California-based solar developer, which will use the financing for working capital purposes.

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• Provided a $4.55 million SBA 7(a) term loan facility to a Louisiana-based hospitality company, which will use the financing for acquisition and working capital purposes.

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• Provided a $14,607,386 construction loan facility to a New Hampshire-based solar developer, which will use the financing for working capital purposes.

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• Provided a $250,000 SBA 7(a) term loan facility to an Alabama-based barbershop, which will use the financing for working capital purposes.

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• Provided a $1.26 million term loan facility to a Colorado-based financial advisory firm, which will use the financing for acquisition purposes.

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