Crestmark Closes 15 Transactions in the Second Half of August

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September 02, 2016, 07:23 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $13,285,000 in financial solutions for 15 new clients in the second half of August. The deals include:

A $125,000 accounts receivable purchase facility was provided on Aug. 17 to a trucking company in California. The financing will be used for working capital purposes.
On Aug. 18, a $135,000 insurance agency term loan facility was provided to an independent insurance agency in South Carolina. The financing will be used for working capital purposes.
A $400,000 accounts receivable purchase facility was provided on Aug. 19 to a trucking company in Illinois. The financing will be used for working capital purposes.
On Aug. 19, a $5.5 million ledgered line of credit facility was provided to a manufacturer of building supplies in Michigan. The financing will be used to pay off an existing lender and for working capital purposes.
A $500,000 accounts receivable purchase facility was provided on Aug. 23 to an oil and gas maintenance service provider in North Carolina. The financing will be used for working capital purposes.
On Aug. 23, a $250,000 traditional factoring facility was provided to an importer and wholesale distributor of consumer goods in North Carolina. The financing will be used for working capital purposes.
$100,000 accounts receivable purchase facility was provided on Aug. 23 to a startup trucking company in Illinois. The financing will be used for working capital purposes.
On Aug. 24, a $2.5 million asset-based line of credit facility was provided to a frozen food importer and wholesaler in Florida. The financing will be used for working capital purposes.
A $200,000 accounts receivable purchase facility was provided on Aug. 25 to a trucking company in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
On Aug. 25, a $125,000 accounts receivable purchase facility was provided to a trucking company in Kentucky. The financing will be used for working capital purposes.
A $100,000 accounts receivable purchase facility was provided on Aug. 29 to a trucking company in Georgia. The financing will be used for working capital purposes.
On Aug. 29, a $100,000 accounts receivable purchase facility was provided to a startup trucking company in Arizona. The financing will be used for working capital purposes.
A $1 million traditional factoring facility was provided on Aug. 30 to a cosmetics manufacturer in New York. The financing will be used to pay off an existing lender and for working capital purposes.
On Aug. 30, a $2 million ledgered line of credit facility was provided to a machinery manufacturer in Michigan. The financing will be used for working capital purposes.
A $250,000 accounts receivable purchase facility was provided on Aug. 31 to a trucking company in Indiana. 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.