Crestmark Tops $54.7MM in Financing to 85 Businesses in H1 January

Crestmark secured a total of $12 million in ABL financial solutions for five new clients; Crestmark Equipment Finance provided $20,756,115 in 10 new lease transactions; Crestmark Vendor Finance provided $7,781,607 in 70 new lease transactions; the Joint Ventures Division provided $2,328,750 in financing for one client; and the Government Guaranteed Lending Division provided $11,865,000 in financing for two new clients in the first half of January.

Brief details of the transactions:

Asset-Based Lending Divisions:

$2 million accounts receivable facility to a trucking company in Michigan for working capital purposes.

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$1 million accounts receivable facility to a trucking company in North Carolina for working capital purposes.

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$7.5 million asset-based line of credit to a communications equipment company in Missouri used to pay off an existing lender and for acquisition purposes.

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$1 million ledgered line of credit facility to a trucking company in Texas for working capital purposes.

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$500,000 accounts receivable facility to a trucking company in Idaho for working capital purposes.

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Crestmark Equipment Finance:

$5,886,000 new lease transaction with a fuel cell company in the northeastern U.S for capital equipment

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$562,990 new lease transaction with a medical services provider in the midwestern U.S. for IT equipment

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$795,201 new lease transaction with a storage solutions company in the southeastern U.S. for capital equipment

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$766,889 new lease transaction with a pawn shop operator in the southern U.S. for capital equipment

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Two new lease transactions totaling $4,770,118 were completed with a food distributor in the northeastern U.S. for transportation equipment

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$1,051,893 new lease transaction with a provider of technology and data analytics services in the southern U.S. for capital equipment

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$1,003,229 new lease transaction with a consumer goods company in the northeastern U.S. for software.

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$693,911 new lease transaction with a flooring manufacturer in the northeastern U.S. for software

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$5,225,884 new lease transaction with a cosmetics company in the northeastern U.S. for software

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Crestmark Vendor Finance

New equipment finance transaction with a medical spa in the southwestern U.S. for medical equipment.

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New lease agreement was completed with a laboratory in the midwestern U.S. for laboratory equipment.

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New equipment finance agreement with an outdoor services company in the southeastern U.S. for transportation equipment.

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New equipment finance transaction with a medical office in the southwestern U.S. on Jan. 15. The financing will be used for medical equipment.

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The Joint Ventures Division

$2,328,750 operating lease transaction with a solar developer in Vermont for a 750 KW DC solar farm in Vermont, which has a local school district and township as the offtaker

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The Government Guaranteed Lending Division