In the second half of November, Crestmark secured a total of $1.8 million in asset-based lending financial solutions for five new clients. Meanwhile, Crestmark Equipment Finance provided $11,790,009 in three new lease transactions and Crestmark Vendor Finance provided $4,592,541 in 49 new lease transactions. In addition, Crestmark’s joint ventures division provided $21,490,800 in financing for one new client and Crestmark’s government guaranteed lending group provided $5,150,000 in financing for two new clients.
Crestmark’s Asset-Based Lending
- Provided a $50,000 accounts receivable purchase facility to an Indiana-based transportation company, which will use the financing for working capital purposes.
- Provided a $150,000 accounts receivable purchase facility to a Florida-based dry van transportation company, which will use the financing for working capital purposes.
- Provided a $700,000 term loan facility to an Indiana-based mechanical-systems parts manufacturer, which will use the financing to pay off an existing lender.
- Provided a $300,000 accounts receivable purchase facility to an Ohio-based freight all kinds trucking company, which will use the financing for working capital purposes.
- Provided a $600,000 accounts receivable purchase facility to a California-based transportation company, which will use the financing for working capital purposes.
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Crestmark Equipment Finance
- Completed a $1,240,537 new lease transaction with a diagnostic imaging services company in the Midwestern U.S. The company will use the financing for operational equipment.
- Completed a $2,206,352 new lease transaction with a transportation company in the southern U.S. The company will use the financing for operational equipment.
- Completed an $8,343,120 new lease transaction with a steel mill services company in the northeastern U.S. The company will use the financing for capital equipment.
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Crestmark Vendor Finance funded $4,592,541 in 49 new transactions in the second half of November. Some highlights include:
- An equipment finance transaction with a millwork company in the southern U.S. The company will use the financing for essential equipment.
- An equipment finance transaction with a dry ice manufacturer in the southeastern U.S. The manufacturer will use the financing for manufacturing equipment.
- A new equipment finance transaction with a trucking company in the Midwestern U.S. The company will use the financing for operational equipment.
- A new lease transaction with an asset recovery company in the southwestern U.S. The company will use the financing for transportation equipment.
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