Crestmark announced it secured a total of $5.86 million in financial solutions for six new clients in the second half of October.
Outlined below are brief descriptions of the transactions:
- A California-based designer and manufacturer of women’s dresses entered into a funds-as-collected traditional factoring facility.
- A $1.15 million accounts receivable purchase facility was provided to a security agency in West Virginia. The financing will be used for working capital purposes.
- A $458,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Texas. The financing will be used for acquisition purposes.
- A $500,000 ledgered line of credit and term loan was provided to a wireless technology infrastructure servicing company in Florida. The financing will be used for pay off an existing lender and for working capital purposes.
- A $1.0 million asset-based line of credit facility was provided to a wireless speaker manufacturer in California. The financing will be used for working capital purposes.
- A $2.75 million ledgered line of credit was provided to a startup telecommunications company in New Jersey. The financing will be used for working capital purposes.