Crestmark secured a total of $12.05 million in financial solutions for 14 new clients in the first half of August. Outlined below are brief descriptions of the transactions:
- $1 million A/R purchase facility to a startup trucking company in Florida for working capital purposes
- $2 million A/R purchase facility to an oil and gas pipeline surveyor in Texas for working capital purposes
- $186,000 SBA 7(a) term loan facility to an independent insurance agency in Georgia for acquisition purposes
- $250,000 traditional factoring facility to a clothing and footwear wholesaler in New Jersey for working capital purposes
- $3.5 million ledgered line of credit facility to a thermostat distributor in California to pay off a previous lender and for working capital purposes
- $250,000 A/R purchase facility to a trucking company in Arkansas for working capital purposes
- $250,000 traditional factoring facility to an electric appliance distributor in Pennsylvania for working capital purposes
- $960,000 SBA 7(a) term loan facility to an independent insurance agency in Pennsylvania to pay off an existing lender and for acquisition purposes
- $1.5 million ledgered line of credit facility to a packaged meat distributor in Illinois to pay off an existing lender and for working capital purposes
- $750,000 A/R purchase facility to a trucking company in Michigan to pay off an existing lender and for working capital purposes
- $350,000 A/R purchase facility to a trucking company in California for working capital purposes
- $400,000 A/R purchase facility to a trucking company in Georgia for working capital purposes
- $250,000 traditional factoring facility to a fashion apparel wholesaler in Florida for working capital purposes
- $400,000 A/R purchase facility to a trucking company in Michigan for working capital purposes