Crestmark Tops $51.6MM in Commercial Financing in H1 December

Crestmark secured a total of $1,200,000 in ABL financial solutions for five new clients; Crestmark Equipment Finance provided $2,002,812 in one new lease transaction; Crestmark Vendor Finance provided $7,871,233 in 80 new lease transactions; and the Government Guaranteed Lending Division provided $40,554,744 in financing for four new clients in the first half of December.

Brief details of the transactions are:

Asset-Based Lending:

• $150,000 accounts receivable purchase facility to a trucking company in Oklahoma for working capital purposes

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• $600,000 accounts receivable purchase facility to a trucking company in Nevada for working capital purposes

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• $100,000 accounts receivable purchase facility to a trucking company in Tennessee for working capital purposes

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• $150,000 accounts receivable purchase facility to a startup trucking company in North Carolina for working capital purposes

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• $200,000 accounts receivable purchase facility to a trucking company in Texas to pay off an existing lender

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 Equipment Finance:

• $2 million new lease transaction with a laundry equipment supplier in the Northeastern U.S. for capital equipment

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Vendor Finance:

• A new equipment finance transaction with a trucking company in the Western U.S. for transportation equipment

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• A new equipment finance agreement with a delivery company in the Southeastern U.S. for transportation equipment

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• A new equipment finance agreement with a dance studio in the Midwestern U.S. for flooring

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• A new equipment finance transaction with a marketing and consulting company in the Western U.S. for IT equipment

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Government Guaranteed Lending:

• $250,000 SBA 7(a) term loan facility to an investment advisory firm in Texas for working capital purposes

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• $27.9 million term loan facility to a solar developer in North Carolina for working capital purposes

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• $7.37 million term loan facility to a solar developer in California for working capital purposes

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• $5 million USDA Business & Industry loan facility to a hospitality management company in Pennsylvania for acquisition and for working capital purposes

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