Crestmark announced it provided more than $49.4 million in commercial financing to 70 businesses in the first half of March. Crestmark secured a total of $20,250,000 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $13,763,020 in six new lease transactions; Crestmark Vendor Finance provided $5,524,480 in 52 new lease transactions; and the Government Guaranteed Lending Division provided $9,900,000 in financing for five new clients in the first half of March.

Crestmark’s Asset-Based Lending Divisions

• On March 2, a $500,000 accounts receivable purchase facility was provided to a specialized oversized-load transportation in Texas. The financing will be used to pay off an existing lender and for working capital purposes.  
• A $250,000 accounts receivable purchase facility was provided to a dry van transportation company in Washington on March 3. The financing will be used for working capital purposes.
• On March 4, a $1,000,000 ledgered line of credit facility was provided to a staffing company in California. The financing will be used for working capital purposes.  
• A $1,000,000 ledgered line of credit facility was provided to a metal products manufacturer in Indiana.  The financing will be used to payoff an existing lender and for working capital purposes. 
• A $12,500,000 ledgered line of credit facility was provided to a water management services provider in Texas on March 9. The financing will be used to pay off an existing lender and for working capital purposes.  
• On March 9, a $2,000,000 line of credit facility was provided to a prepaid card services provider in California. The financing will be used for working capital purposes.  
• A $3,000,000 ledgered line of credit facility was provided to an oil & gas industrial services provider in Texas on March11. The financing will be used to payoff an existing lender and for working capital purposes.

Crestmark Equipment Finance

• On March 3, a $1,237,436 new lease transaction was completed with a manufacturing company in the midwestern U.S. The financing will be used for capital equipment.
• A $1,155,874 new lease transaction was completed with an outsourcing technology services provider in the southern U.S. on March 3. The financing will be used for capital equipment.
• On March 5, a $757,540 new lease transaction was completed with a fitness center in the eastern U.S. The financing will be used for fitness equipment.
• A $8,780,173 new lease transaction was completed with a thermal coal producer in the midwestern U.S. on March 6. The financing will be used for capital equipment.
• On March 11, a $1,230,783 new lease transaction was completed with a produce distributor in the eastern U.S. The financing will be used for trucks.
• A $601,214 new lease transaction was completed with an intermodal solutions provider in the midwestern U.S. on March 12. The financing will be used for capital equipment.

Crestmark Vendor Finance

Crestmark Vendor Finance funded $5,524,480 in 52 new lease transactions in the first half of March. Some highlights include:

• On March 2, a new equipment finance transaction was completed with a logistics company in the western U.S. The financing will be used for trailers.
• A new equipment finance transaction was completed with a physician in the northeastern U.S. on March 9. The financing will be used for capital equipment.
• On March 11, a new equipment finance transaction was completed with a construction company in the western U.S. The financing will be used for a yard dump truck.
• A new equipment finance transaction was completed with a limousine company in the northeastern U.S. on March13. The financing will be used for new vehicle.

The Government Guaranteed Lending Division

• On March 4, a $4,175,000 SBA 7(a) term loan facility was provided to a structural framing developer in New Jersey. The financing will be used for working capital purposes.  
• A $3,825,000 Crestmark term loan facility was provided to a wealth management services company in Connecticut on March 9. The financing will be used for acquisition and for working capital purposes.
• On March 10, a $150,000 SBA 7(a) term loan facility was provided to an investment management company in California. The financing will be used for working capital purposes.  
• A $1,600,000 Crestmark term loan facility was provided to a financial advisory firm in Ohio on March 12. The financing will be used for acquisition and working capital purposes.
• On March 12, a $150,000 SBA 7(a) term loan facility was provided to a property damage restoration company in Florida. The financing will be used for working capital purposes.