Daily News: May 3, 2019

Crestmark Provides More Than $25MM in ABL Financings in H2/April


Crestmark secured a total of $25,758,713 in ABL financial solutions for 10 new clients in the second half of April.

Brief details of the transactions are:

  • $150,000 accounts receivable purchase facility to a trucking company in Louisiana for working capital purposes.
  • $150,000 accounts receivable purchase facility to a trucking company in Ohio for working capital purposes.
  • $2 million ABL credit facility to a manufacturer of containment equipment in North Carolina to pay off an existing lender and for working capital purposes.
  • $3 million term loan and a $2.5 million ABL credit to an oilfield services provider in Texas to pay off an existing lender and for working capital purposes.
  • $4,908,713 term loan facility and a $3 million ledgered line of credit facility d to an oilfield services company in Texas for working capital purposes.
  • $3.5 million ledgered line of credit to a metal fabrication company in Alabama for working capital purposes.
  • $4.75 million term loan to a manufacturer of solar cell technology in be used for working capital purposes.
  • $1.25 million ledgered line of credit facility to a manufacturer of sheet metal components in Pennsylvania to pay off an existing lender and for working capital purposes.
  • $400,000 accounts receivable purchase facility to a trucking company in Georgia for working capital purposes.
  • $150,000 accounts receivable purchase facility to a startup trucking company in New York for working capital purposes.