Crestmark Closes 14 Recent Deals Totaling More Than $16.8MM

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October 21, 2016, 07:13 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $16.89 million in financial solutions for 14 new clients in the first half of October. The deals are:

On Oct. 1, a $2.2 million new lease transaction was provided to a communications provider in the west.
A $4.72 million USDA Business and Industry loan facility was provided on Oct. 4 to a hospitality management company in Ohio. The financing will be used for acquisition and for working capital purposes.
On Oct. 5, a $250,000 traditional factoring facility was provided to a fabric wholesaler in New York. The financing will be used for working capital purposes.
A $100,000 accounts receivable purchase facility was provided on Oct. 6 to a startup trucking company in Georgia. The financing will be used for working capital purposes.
On Oct. 7, a $700,000 ledgered line of credit facility was provided to a model manufacturing company in Indiana. The financing will be used for working capital purposes.
A $250,000 traditional factoring facility was provided on Oct. 7 to an apparel wholesaler in New Jersey. The financing will be used for working capital purposes.
On Oct. 11, a $750,000 accounts receivable purchase facility was provided to a startup trucking company in California. The financing will be used for working capital purposes.
A $100,000 accounts receivable purchase facility was provided on Oct. 11 to a startup trucking company in Ohio. The financing will be used for working capital purposes.
On Oct. 11, a $500,000 ledgered line of credit facility was provided to a staffing company in Florida. The financing will be used for working capital purposes.
A $1.2 million SBA 7(a) term loan facility was provided on Oct. 12 to an independent insurance agency in Texas. The financing will be used for acquisition and for working capital purposes.
On Oct. 13, a $4.72 USDA Business and Industry loan facility was provided to a hospitality management company in Ohio. The financing will be used for acquisition and for working capital purposes.
A $1 mlllion SBA 7(a) term loan facility was provided on Oct. 13 to an independent insurance agency in Florida. The financing will be used for acquisition and for working capital purposes.
On Oct. 14, a $250,000 accounts receivable purchase facility was provided to a trucking company in Kentucky. The financing will be used for working capital purposes.
A $150,000 accounts receivable purchase facility was provided on Oct. 14 to a trucking company in Missouri. 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.