Crestmark secured a total of $1,200,000 in ABL financial solutions for five new clients; Crestmark Equipment Finance provided $2,002,812 in one new lease transaction; Crestmark Vendor Finance provided $7,871,233 in 80 new lease transactions; and the Government Guaranteed Lending Division provided $40,554,744 in financing for four new clients in the first half of December.

Brief details of the transactions are:

Asset-Based Lending:

  • $150,000 accounts receivable purchase facility to a trucking company in Oklahoma for working capital purposes
  • $600,000 accounts receivable purchase facility to a trucking company in Nevada for working capital purposes
  • $100,000 accounts receivable purchase facility to a trucking company in Tennessee for working capital purposes
  • $150,000 accounts receivable purchase facility to a startup trucking company in North Carolina for working capital purposes
  • $200,000 accounts receivable purchase facility to a trucking company in Texas to pay off an existing lender

 Equipment Finance:

  • $2 million new lease transaction with a laundry equipment supplier in the Northeastern U.S. for capital equipment

Vendor Finance:

  • A new equipment finance transaction with a trucking company in the Western U.S. for transportation equipment
  • A new equipment finance agreement with a delivery company in the Southeastern U.S. for transportation equipment
  • A new equipment finance agreement with a dance studio in the Midwestern U.S. for flooring
  • A new equipment finance transaction with a marketing and consulting company in the Western U.S. for IT equipment

Government Guaranteed Lending:

  • $250,000 SBA 7(a) term loan facility to an investment advisory firm in Texas for working capital purposes
  • $27.9 million term loan facility to a solar developer in North Carolina for working capital purposes
  • $7.37 million term loan facility to a solar developer in California for working capital purposes
  • $5 million USDA Business & Industry loan facility to a hospitality management company in Pennsylvania for acquisition and for working capital purposes