Daily News: February 6, 2014

Crestmark Closes More than $7.5MM in January Transactions

Crestmark secured the following transactions for four new clients in January:

  • On January 3, a $400,000 equipment term loan was provided to a Texas manufacturer of cable trays and support systems for the purchase of new equipment.
  • A $2 million ledgered line of credit was provided on January 6 to a staffing company with outlets across the country.
  • On January 10, a $2.5 million ledgered line of credit facility was provided to a Texas trucking company supporting oil and gas well services. The funds will be used to pay off prior lender and provide working capital.
  • A $2.5 million traditional factoring facility was provided on January 30 to a designer and importer of small appliances in Florida.