Crestmark secured a total of $12,530,000 in financial solutions for eight new clients in the first half of July, including:
- A traditional factoring facility to an urban/streetwear clothing importer in New Jersey for working capital purposes.
- A $1,450,000 term loan to an insurance agency in Texas for acquisition purposes.
- A $2,000,000 asset-based line of credit to a non-recourse factoring company in New York to finance new customers and enable growth.
- A $7,500,000 ledgered line of credit was provided to a professional leadership and shared services company in Texas for working capital.
- A $430,000 term loan to an independent insurance agency in California for acquisition purposes.
- A $500,000 accounts receivable purchase facility was provided to a trucking company in Illinois for working capital purposes.
- A $150,000 accounts receivable purchase facility was provided on July 10th to a trucking company in Illinois to pay off previous lender and working capital purposes.
- A $500,000 accounts receivable purchase facility was provided to a startup trucking company in Texas for working capital purposes.