Crestmark secured a total of just over $6.5 million in financial solutions for nine new clients in the second half of September.
- On September 16, a $300,000 SBA 7(a) term loan facility was provided to an independent insurance agency in North Carolina. The financing will be used for acquisition purposes.
- A $540,000 term loan was provided on September 17 to an Illinois trucking company. The financing will be used to purchase new trailers.
- A $150,000 accounts receivable purchase facility was provided on September 18 to a trucking company in Pennsylvania. The financing will be used for working capital purposes.
- On September 22, a $250,000 accounts receivable purchase facility was provided to a trucking company in Kentucky. The financing will be used for working capital purposes.
- On September 29, a $250,000 accounts receivable purchase facility was provided to startup trucking company in Kentucky. The financing will be used for working capital purposes.
- A $4,000,000 asset-based line of credit facility was provided on September 30 to a distributor of consumable, health and beauty, and imported grocery products in California. The financing will be used to pay off a previous lender and for working capital purposes.
- On September 30, a footwear wholesaler in Florida entered into a funds-as-collected traditional factoring facility with Crestmark.
- A $200,000 SBA 7(a) term loan facility was provided on September 30 to an independent insurance agency in New York. The financing will be used to pay off a previous lender.
- On September 30, a $900,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Illinois. The financing will be used to pay off a previous lender and for acquisition purposes.