Crestmark secured a total of $7,703,300 in ABL financial solutions for seven new clients in the first half of July. In addition, Crestmark Equipment Finance provided $16,946,772 in three new lease transactions, Crestmark Vendor Finance provided $7,799,845 in 98 new lease transactions, Crestmark’s joint ventures division provided $9,067,872 in financing to one new client and Crestmark’s government guaranteed lending group provided $1.94 million in financing for three new clients in the first half of July.
Crestmark’s Asset-Based Lending
- Provided a $1.5 million accounts receivable purchase facility to a freight all kinds transportation company in Tennessee. The company will use the financing to pay off an existing lender and for working capital purposes.
- Provided a $150,000 accounts receivable purchase facility to a power-only freight all kinds transportation company in Maryland. The company will use the financing for working capital purposes.
- Provided a $500,000 accounts receivable purchase facility to a dry van transportation company in California. The company will use the financing for working capital purposes.
- Provided a $1,903,300 ledgered line of credit facility to an Alberta transportation company working across North America. The company will use the financing to pay off an existing lender and for working capital purposes.
- Provided a $2.5 million ledgered line of credit facility to an energy industry technical solutions provider in Michigan. The company will use the financing for working capital purposes.
- Provided a $1 million accounts receivable purchase facility to an oilfield transportation services provider in Ohio. The company will use the financing to pay off an existing lender and for working capital purposes.
- Provided a $150,000 accounts receivable purchase facility to a refrigerated transport company in Texas. The company will use the financing for working capital purposes.
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Crestmark Equipment Finance
- Completed a $507,830 new lease transaction with a data protection provider in the midwestern U.S. The provider will use the financing for IT equipment.
- Completed a $13.786 million new lease transaction with a medical equipment manufacturer in the eastern U.S. The manufacturer will use the financing for fuel cells.
- Completed a $2,652,942 new lease transaction with an ambulatory surgical center in the northeastern U.S. The center will use the financing for medical equipment.
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Crestmark Vendor Finance funded $7,799,845 in 98 new transactions in the first half of July. Some highlights include:
- An equipment finance transaction with a construction company in the northeastern U.S. The company will use the financing for essential equipment.
- An equipment finance transaction with a dermatologist in the southeastern U.S. The dermatologist will use the financing for medical equipment.
- A new equipment finance transaction with a CNC milling and manufacturing company in the northwestern U.S.. The company will use the financing for operational equipment.
- A new equipment finance agreement with an aggregate hauling company in the northeastern U.S. The company will use the financing for operational equipment.
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Crestmark’s Joint Ventures Division
- Provided a $9,067,872 operating lease transaction to an investment company in Michigan. The company will use the financing to install a 2.7MW solar system in Connecticut, which has a commercial retail center as the offtaker._x000D_
Government Guaranteed Lending - Provided a $225,000 SBA 7(a) term loan facility to an independent insurance agency in New York. The agency will use the financing for acquisition purposes.
- Provided a $1.5 million SBA 7(a) term loan facility to an independent insurance agency in Alabama. The agency will use the financing for acquisition purposes.
- Provided a $215,000 term loan facility to an asset management firm in Michigan. The firm will use the financing for working capital purposes.
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