Crestmark, the commercial finance division of MetaBank, secured a total of $53.3 million in asset-based lending and factoring financial solutions for 17 new clients in the first half of June. In addition, Crestmark Equipment Finance provided $964,688 in two new transactions, Crestmark Vendor Finance provided $2,600,586 in 21 new transactions and Crestmark’s government guaranteed lending group provided $8.84 million in financing for two new clients.

Asset-Based Lending and Factoring

Accounts Receivable Facilities

  • $150,000 to a refrigerated trucking company in Texas
  • $250,000 to a refrigerated trucking company in California
  • $100,000 to a trucking company in Indiana
  • $500,000 to a transportation company in Texas
  • $400,000 to a refrigerated trucking company in Ohio
  • $150,000 to a freight-all-kinds trucking company in North Carolina
  • $1 million to a freight-all-kinds trucking company in California
  • $15 million to a freight brokerage in Florida
  • $400,000 to a freight-all-kinds trucking company in Florida
  • $150,000 to a trucking company in Missouri
  • $650,000 to a transportation company in Florida
  • $150,000 to a freight-all-kinds trucking company in Illinois
  • $500,000 to a transportation company in Texas

Asset-Based Loan Facilities

  • $6 million to a wholesale meat processor and distributor in California
  • $20 million to a cell phone manufacturing company in Florida
  • $5.4 million to a medical device manufacturer in South Dakota

Ledgered Line of Credit Facilities

  • $2.5 million to a freight services company in Tennessee

Vendor Finance Highlights

  • An equipment finance transaction for a medical company in the southern U.S. for medical equipment
  • An equipment finance transaction for a trucking company in the southcentral U.S. for transportation equipment
  • An equipment finance transaction for a crane company in the southcentral U.S. for transportation equipment
  • An equipment finance transaction for a medical spa company in the midwestern U.S. for medical equipment

Government Guaranteed Lending

  • Provided a $440,000 SBA 7(a) loan to a printing services company in Florida
  • Provided a $8.4 million USDA Business and Industry loan to a hotel in Texas.