Crestmark announced it secured a total of $6.51 million in accounts receivable financial solutions for 10 new clients in the first half of November. Outlined below are brief descriptions of the transaction:
- A $500,000 purchase facility was provided to a start-up freight broker in Canada.
- A $250,000 purchase facility was provided to a security agency in Florida.
- A $500,000 purchase facility was provided to a start-up short haul trucking company in Tennessee.
- A $200,000 purchase facility was provided to a trucking company in Tennessee.
- A $250,000 purchase facility was provided to a transportation company in California.
- A $1.5 million purchase facility was provided to an equipment rental and transportation company in Texas.
- A $1.0 million term loan facility was provided to a polyethylene foam extrusion company in Michigan.
- A $500,000 traditional factoring facility was provided to a fashion accessory wholesaler in New Jersey.
- A $1.51 million SBA 7(a) term loan facility was provided to an independent insurance company in Minnesota. The financing will be used for acquisition purposes.
- A $300,000 traditional factoring facility was provided to a men’s apparel manufacturer in Colorado.