Crestmark secured the following financial solutions for six new clients in the first half of May:
- A $100,000 A/R purchase facility was provided on May 4 to a trucking company in Kentucky. The financing will be used for working capital purposes.
- On May 5, a $3.2 million A/R purchase facility was provided to an oilfield services provider in Oklahoma. The financing will be used to pay off a previous lender and for working capital purposes.
- A $750,000 A/R purchase facility was provided on May 6 to a freight broker in Michigan. The financing will be used for working capital purposes.
- On May 8, a $1,02 million SBA term loan facility was provided to an independent insurance agency in Idaho. The financing will be used for acquisition purposes.
- A $1 million A/R purchase facility was provided on May 13 to a fuel distributor and transporter in South Carolina. The financing will be used for working capital purposes.
- On May 14, a $1 million A/R purchase facility was provided to an IT staffing and consulting firm in Pennsylvania. The financing will be used to pay off a previous lender and for working capital purposes.