Crestmark Closes 14 Transactions Totaling Nearly $23MM in Second Half of December

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January 05, 2017, 07:08 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $22,870,000 in financial solutions for 14 new clients in the second half of December.

A $1,000,000 ledgered line of credit facility was provided on Dec. 16 to a staffing company in Illinois. The financing will be used to pay off an existing lender and for working capital purposes.
On Dec. 16, a $100,000 accounts receivable purchase facility was provided to a trucking company in Texas. The financing will be used for working capital purposes.
A $1,900,000 new lease transaction was completed with a finance company in the Western United States.
A $100,000 accounts receivable purchase facility was provided on Dec. 16 to a trucking company in New Jersey. The financing will be used for working capital purposes.
On Dec. 20, a $75,000 insurance agency term loan facility was provided to an independent insurance agency in Georgia. The financing will be used for acquisition purposes.
On Dec. 20, a $250,000 traditional factoring facility was provided to a startup apparel manufacturer in New Jersey. The financing will be used for working capital purposes.
A $400,000 insurance agency term loan facility was provided on Dec. 21 to an independent insurance agency in Minnesota. The financing will be used to pay off an existing lender and for working capital purposes.
A $3,300,000 new lease transaction was completed with a global Tier 1 auto supplier.
On Dec. 22, a $500,000 accounts receivable purchase facility was provided to a trucking company in California. The financing will be used for working capital purposes.
A $2,820,000 SBA 7(a) term loan facility was provided on Dec. 30 to an independent insurance agency in Florida. The financing will be used for acquisition purposes.
On Dec. 30, a $1,551,500 term loan facility was provided to a hospitality management company in Georgia. The financing will be used for acquisition purposes.
A $2,573,500 SBA 7(a) term loan facility was provided on Dec. 30 to a hospitality management company in Georgia. The financing will be used for acquisition purposes.
A $1,300,000 new lease transaction was completed with a Fortune 500 global energy provider.
On Dec. 30, a $7,000,000 accounts receivable purchase facility was provided to a surveillance and communications technology manufacturer in Kansas. The financing will be used for working capital purposes.