Daily News: August 17, 2012

Crestmark Closes Seven Transactions Totaling $13.7 Million

Crestmark announced that from July 30 to August 10 the company secured seven new clients totaling $13.7 million.

On July 30, Crestmark provided a $250,000 accounts receivable purchase for an engineering and logistical support service organization based in Alabama.

Also on July 30, Crestmark funded a $4 million ledgered line of credit to a full-service fabrication company in Texas. The company’s main customer base stems from the oil and gas industry, and the funds will be used for working capital.

Crestmark funded $200,000 accounts receivable purchase facility July 31 for a Texas freight shipping and trucking company. The organization brokers loads for a container fleet company.

A Kentucky-based designer and manufacturer of folding cartons funded August 2 for a $3 million asset-based lending facility. The funding will be used for amortization and working capital.

On August 9, two companies were furnished a joint $750,000 co-borrower accounts receivable purchase facility. The Michigan companies manufacture and import lighting.

A Texas-based company funded August 9 for $5 million ledgered line of credit. The company handles the warehouse and distribution of chemicals used for hydraulic fracturing. Funding will provide additional working capital.

On August 10, Crestmark provided a $500,000 ledgered line of credit to an automotive production repair company. This Michigan-based company works with a major automotive manufacturer, and the funding will provide working capital.

Crestmark is a provider of working capital solutions for small- to medium-sized businesses.