Crestmark secured a total of $56.45 million in asset-based lending and factoring financial solutions for 26 new clients in the second half of March and the first half of April. In addition, Crestmark Equipment Finance provided $25,043,991 in 21 new large-ticket transactions and $11,837,288 in 93 new small-ticket vendor transactions, while Crestmark’s structured finance group provided $8.369 million in financing for two new clients.
Crestmark provided the following asset-based lending and factoring financial solutions to be used for various purposes, such as working capital and to pay off existing lenders:
- A $22.5 million asset-based lending facility to a solid surface wholesale distributor in Pennsylvania
- An $8.5 million asset-based lending facility to an automotive aftermarket supplier in Illinois
- A $7 million asset-based lending facility to a flooring distributor in California
- A $5 million ledgered line of credit facility to a solar battery pack provider in California
- A $3.5 million asset-based lending facility to a furniture manufacturer in Michigan
- A $3 million asset-based lending facility to a solar mounting systems manufacturer in Washington
- A $2 million accounts receivable facility to a freight-all-kinds transportation company in Illinois
- A $2 million accounts receivable facility to a general freight transportation company in Illinois
- A $300,000 accounts receivable facility to a flatbed trucking company in Georgia
- A $200,000 accounts receivable facility to a dry van transport company in Florida
- A $200,000 accounts receivable facility to a power only trucking company in California
- A $150,000 accounts receivable facility to a refrigerated transport company in Minnesota
- A $150,000 accounts receivable facility to a freight-all-kinds trucking company in North Carolina
- A $150,000 accounts receivable facility to a dry van trucking company in Connecticut
- A $150,000 accounts receivable facility to a flatbed trucking company in California
- A $150,000 accounts receivable facility to a power only trucking company in North Carolina
- A $150,000 accounts receivable facility to a refrigerated transportation company in Arizona
- A $150,000 accounts receivable facility to a freight-all-kinds transportation company in Florida
- A $150,000 accounts receivable facility to a flatbed trucking company in Texas
- A $150,000 accounts receivable facility to a freight-all-kinds transportation company in Texas
- A $150,000 accounts receivable facility to a power only trucking company in New Jersey
- A $150,000 accounts receivable facility to a power only trucking company in Texas
- A $150,000 accounts receivable facility to a freight-all-kinds transportation company in Texas
- A $150,000 accounts receivable facility to a waste transport company in Maryland
- A $150,000 accounts receivable facility to a dry van trucking company in New Jersey
- A $150,000 accounts receivable facility to a freight-all-kinds transportation company in Texas
Crestmark Equipment Finance’s transactions included:
- $7,837,378 to an oil and gas field services company in the southern United States for construction equipment
- $3,577,738 to a food products provider in the southern United States for capital equipment
- $2,265,092 to a commercial services company in the eastern United States for operational equipment
- A small-ticket vendor equipment finance transaction for a trucking company in the Midwest for transportation equipment
- A small-ticket vendor equipment finance transaction for a window covering company in the western United States for capital equipment
- A small-ticket vendor equipment finance transaction for a transportation company in the Midwest for transportation equipment
- A small-ticket vendor equipment finance transaction for a pharmaceutical company in the southern United States for operational equipment
- A small-ticket vendor equipment finance transaction for a printing company in the southern United States for operational equipment
- A small-ticket vendor equipment finance transaction for a transportation company in the southern United States for transportation equipment
- A small-ticket vendor equipment finance transaction for a medical company in the southern United States for operational equipment
- A small-ticket vendor equipment finance transaction for a container company in the western United States for transportation equipment
Crestmark provided the following structured finance solutions, which will be used for various purposes, such as for acquisitions and working capital:
- An $8.098 million term loan to an investment advisor in California
A $271,000 SBA 7(a) loan to an insurance agency in New York