Crestmark announced it provided more than $70.5 million in commercial financing to 83 businesses in the second half of March. Crestmark Equipment Finance provided $30,768,825 in 15 new transactions; Crestmark Vendor Finance provided $6,544,102 in 57 new transactions; Crestmark secured a total of $15,150,000 in ABL/factoring financial solutions for seven new clients; and the Government Guaranteed Lending group provided $18,126,800 in financing for four new clients.

Crestmark’s Asset-Based Lending and Factoring

• On March 16, a $200,000 accounts receivable purchase facility was provided to a dry van transportation company in Missouri. The financing will be used for working capital purposes.
• On March 19, a $150,000 accounts receivable purchase facility was provided to a trucking company in Florida. The financing will be used for working capital purposes.
•  A $150,000 accounts receivable purchase facility was provided to a freight broker in Michigan on March 22. The financing will be used for working capital purposes.
• On March 23, a $500,000 accounts receivable purchase facility was provided to a freight-all-kinds trucking company in Alabama. The financing will be used to pay off an existing lender and for working capital purposes.
• A $150,000 accounts receivable purchase facility was provided to a transportation company in Maryland on March 26. The financing will be used to pay off an existing lender and for working capital purposes.
• On March 29, a $5,000,000 asset-based line of credit facility was provided to a metallurgical services provider in Wisconsin. The financing will be used to pay off an existing lender and for working capital purposes.
• A $9,000,000 asset-based line of credit facility was provided to a construction products distributor in Missouri on March 31. The financing will be used to pay off an existing lender and for working capital purposes.

Crestmark Equipment Finance

Crestmark Equipment Finance funded $30,768,825 in 15 new lease transactions in the second half of March. Some highlights include:

• A $6,490,869 new lease transaction was completed with a machinery manufacturer in the northeastern U.S. on March 18. The financing will be used for capital equipment.
• On March 24, a $5,700,000 new lease transaction was completed with a semiconductor products producer in the western U.S. The financing will be used for alternative energy equipment.
• A $5,331,045 new lease transaction was completed with a food wholesaler in the northeastern U.S. on March 24. The financing will be used for transportation equipment.
• On March 31, a $7,589,927 new lease transaction was completed with a retail company in the midwestern U.S. The financing will be used for operational equipment.

Crestmark Vendor Finance

Crestmark Vendor Finance funded $6,544,102 in 57 new transactions in the second half of March. Some highlights include:

• On March 17, an equipment finance transaction was completed with a flag and banner company in the southeastern U.S. The financing will be used for operational equipment.
• An equipment finance transaction was completed with a medical provider in the southeastern U.S on March 24. The financing will be used for essential equipment.
• On March 29, a new equipment finance transaction was completed with a farm in the midwestern U.S. The financing will be used for operational equipment.  
• A new equipment finance transaction was completed with a transportation company in the southeastern U.S. on March 31. The financing will be used for operational equipment.

Government Guaranteed Lending

• An $800,000 SBA 7(a) term loan facility was provided to a gourmet cookie delivery company in Utah on March 16. The financing will be used for acquisition and for working capital purposes.
• On March 19, a $2,100,000 term loan facility was provided to a wealth advisory firm in California. The financing will be used for acquisition and for working capital purposes.
• A $15,000,000 USDA Business & Industry loan was provided to a solar developer in North Carolina on March 22. The financing will be used for construction purposes.
• On March 26, a $226,800 term loan facility was provided to an independent insurance agency in Michigan. The financing will be used for acquisition and for working capital purposes.