Crestmark secured a total of over $20 million in financial solutions for 12 new clients in the second half of December.
Outlined below are brief descriptions of the transactions:
- $200,000 accounts receivable purchase facility was provided to a startup refrigerated carrier in Florida.
- $1.5 million accounts receivable purchase facility was provided to a staffing company in California.
- $4.5 million ledgered line of credit was provided to a government contractor in Virginia. The financing will be used to pay off an existing lender.
- $1.6 million asset-based line of credit facility was provided to a commercial tire wholesaler in Indiana.
- $1.3 million factoring facility was provided to a men’s apparel wholesaler in New York. The financing will be used to pay off an existing lender.
- $4.0 million asset-based line of credit facility was provided to a manufacturer of wood and laminated products in Michigan. The financing will be used to pay off an existing lender.
- $2.0 million ledgered line of credit was provided to a maintenance supplier in the oil and gas industry in Texas. The financing will be used to pay off an existing lender.
- $250,000 factoring facility was provided to a women’s apparel manufacturer in Massachusetts.
- $3.0 million ledgered line of credit was provided to an agriculture and construction equipment manufacturer in Nebraska. The financing will be used to pay off an existing lender.
- $375,000 factoring facility was provided to a distributor of decorative home furnishings in Utah.
- $375,000 factoring facility was provided to a furniture distributor in Utah.
- $1.025 million SBA 7(a) term loan facility was provided to an independent insurance agency in Florida. The financing will be used for acquisition purposes.