Crestmark provided more than $14.4 million in commercial financing to 62 businesses in the first half of June 2019.
Those transactions included $5.55 million ABL facilities for six new clients; $4,088,323 in 53 new lease transactions from Crestmark Vendor Finance; and $4,841,600 in financing for four new clients from the Government Guaranteed Lending Division.
Brief details of the transactions are:
Asset-Based Lending:
- $500,000 term loan to a media content and technology solutions provider in California for acquisition purposes
- $1.5 million term loan to a nonprofit organization that provides financial literacy tools in California for working capital purposes
- $1.2 million A/R purchase facility to a trucking company in Pennsylvania for working capital purposes
- $1.5 million A/R purchase facility to a trucking company in California for working capital purposes
- $750,000 A/R purchase facility to a beverage company in Florida for working capital purposes
- $100,000 A/R purchase facility to a startup trucking company in Indiana for working capital purposes
Vendor Finance:
- $4,088,323 in 53 new lease transactions to 52 businesses
Guaranteed Lending Division:
- $795,000 SBA 7(a) term loan to an independent insurance agency in Washington to pay off an existing lender, for acquisition and for working capital purposes
- $870,000 SBA 7(a) term loan to an independent insurance agency in Nevada for acquisition purposes
- $2.975 million SBA 7(a) term loan to an eyewear company in Florida for acquisition and for working capital purposes
- $201,600 term loan to a solar developer in South Carolina for acquisition purposes