Crestmark Closes 14 Transactions in the First Half of August

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August 18, 2016, 07:26 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $12,046,000 in financial solutions for 14 new clients in the first half of August. They are:

A $1 million accounts receivable purchase facility was provided on Aug. 1 to a startup trucking company in Florida. The financing will be used for working capital purposes.
On Aug. 2, a $2 million accounts receivable purchase facility was provided to an oil and gas pipeline surveyor in Texas. The financing will be used for working capital purposes.
A $186,000 SBA 7(a) term loan facility was provided on Aug. 2 to an independent insurance agency in Georgia. The financing will be used for acquisition purposes.
On Aug. 5, a $250,000 traditional factoring facility was provided to a clothing and footwear wholesaler in New Jersey. The financing will be used for working capital purposes.
A $3.5 million ledgered line of credit facility was provided on Aug. 5 to a thermostat distributor in California. The financing will be used to pay off a previous lender and for working capital purposes.
On Aug. 8, a $250,000 accounts receivable purchase facility was provided to a trucking company in Arkansas. The financing will be used for working capital purposes.
A $250,000 traditional factoring facility was provided on Aug. 9 to an electric appliance distributor in Pennsylvania. The financing will be used for working capital purposes.
On Aug. 9, a $960,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Pennsylvania. The financing will be used to pay off an existing lender and for acquisition purposes.
A $1.5 million ledgered line of credit facility was provided on Aug. 9 to a packaged meat distributor in Illinois. The financing will be used to pay off an existing lender and for working capital purposes.
On Aug. 11, a $750,000 accounts receivable purchase facility was provided to a trucking company in Michigan. The financing will be used to pay off an existing lender and for working capital purposes.
A $350,000 accounts receivable purchase facility was provided on Aug. 11 to a trucking company in California. The financing will be used for working capital purposes.
On Aug. 12, a $400,000 accounts receivable purchase facility was provided to a trucking company in Georgia. The financing will be used for working capital purposes.
A $250,000 traditional factoring facility was provided on Aug. 12 to a fashion apparel wholesaler in Florida. The financing will be used for working capital purposes.
On Aug. 12, a $400,000 accounts receivable purchase facility was provided to a trucking company in Michigan. The financing will be used for working capital purposes.

Crestmark is an FDIC-insured bank that provides innovative financial solutions for businesses nationwide. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, term loans, factoring, machinery/equipment financing and equipment leasing. Crestmark has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, government contractors, apparel/footwear/furniture distribution/manufacturing, hospitality/hotels, insurance agencies, and technology hardware/software. Headquartered in Michigan, with additional offices in California, Florida, Louisiana, Tennessee, New York, and Illinois; and representatives nationwide.