Crestmark Delivers $215MM to Small Businesses Through PPP
Crestmark funded more than $215 million for small businesses through the Paycheck Protection Program (PPP), part of the CARES Act stimulus package.
Crestmark funded more than $215 million for small businesses through the Paycheck Protection Program (PPP), part of the CARES Act stimulus package.
Crestmark’s healthcare financial services group completed its first funding and added Chad Kerr as an underwriting manager. Kerr joined Crestmark in 2005 and most recently served as SBA portfolio manager for the government guaranteed lending group.
Crestmark secured a total of $24.15 million in ABL financial solutions for 14 new clients in the first half of April, including a $12 million ledgered line of credit facility to an air transport support and services company in Texas.
Crestmark secured a total of $13.9 million in asset-based loans for eight new clients in the second half of March, including an $8 million asset-based line of credit facility to a steel products provider in Indiana.
Crestmark partnered with Comdata in launching Comdata QuickPay, which is a new financing solution that gives fleet owners access to same-day payments on the loads they deliver.
Crestmark secured a total of $20.25 million in asset-based lending financial solutions for seven new clients in the first half of March.
In the second half of February, Crestmark secured a total of $10,450,000 in asset-based lending financial solutions for five new clients. In addition, Crestmark Equipment Finance provided $15,950,106 in nine new lease transactions, Crestmark Vendor Finance provided $4,247,630 in 46 new lease transactions and the Government Guaranteed Lending Division provided a $1,680,000 term loan facility to a solar developer in California for capital expenditures.
Crestmark completed more than $41.6 million in commercial financings in the first half of February.
Crestmark secured a total of $12 million in ABL financial solutions for five new clients in the first half of January.
Crestmark provided $48.4 million in financing to 93 businesses in the second half of December, including $2 million in ABL funding.