Daily News: March 6, 2019

Crestmark Provides $15.1MM+ to 58 Businesses in H2/February 2019


Crestmark provided more than $15.1 million in commercial financing solutions for 58 businesses in the second half of February 2019.

Those transactions included $1.7 million in asset-based lending financial solutions for five new clients; $1.829207 million in two new lease transactions from Crestmark Equipment Finance, $5.074866 million in 48 new lease transactions from Crestmark Vendor Finance and $6.55 million in financing for three new clients from the Government Guaranteed Lending Division.

Those transactions were:

In the Crestmark Asset-Based Lending Division:

  • $50,000 A/R purchase facility to a trucking company in Kentucky for working capital purposes
  • $150,000 A/R purchase facility to a startup trucking company in Kentucky for working capital purposes
  • $350,000 A/R purchase facility to a startup trucking company in Kentucky for working capital purposes
  • $1 million ledgered line of credit to a distributor of outdoor cooking equipment in Georgia to pay off an existing lender and for working capital purposes
  • $150,000 A/R purchase facility to a trucking company in North Carolina for working capital purposes

In the Crestmark Equipment Finance Division:

  • $775,281 new lease transaction with a fitness club in the northeastern U.S. for capital equipment
  • $1.053926 million new lease transaction with a software and IT company in the midwestern U.S. for IT equipment

In Crestmark Vendor Finance:

  • $5.074866 million in 48 transactions

In the Government Guaranteed Lending Division:

  • $3.4 million USDA Business & Industry (B&I) loan facility to a solar energy developer in Texas to provide permanent debt for a 14.263 MW DC solar farm, which has a utility company as the offtaker
  • $150,000 SBA 7(a) term loan facility to a financial advisory firm in California for working capital purposes
  • $3 million USDA B&I loan facility to a solar energy developer in Texas to provide permanent debt for a 14.263 MW DC solar farm, which has a utility company as the offtaker