Crestmark announced it provided more than $44.8 million in commercial financing to 60 businesses in the second half of November. Crestmark secured a total of $1,800,000 in ABL financial solutions for five new clients; Crestmark Equipment Finance provided $11,790,009 in three new lease transactions; Crestmark Vendor Finance provided $4,592,541 in 49 new lease transactions; the Joint Ventures Division provided $21,490,800 in financing for one new client; the Government Guaranteed Lending group provided $5,150,000 in financing for two new clients.

Crestmark’s Asset-Based Lending

• On Nov. 19, a $50,000 accounts receivable purchase facility was provided to a transportation company in Indiana. The financing will be used for working capital purposes.
• A $150,000 accounts receivable purchase facility was provided to a dry van transportation company in Florida on Nov. 23. The financing will be used for working capital purposes.
• On Nov. 24, a $700,000 term loan facility was provided to a mechanical-systems parts manufacturer in Indiana. The financing will be used to pay off an existing lender.
• A $300,000 accounts receivable purchase facility was provided to a freight all kinds trucking company in Ohio on Nov. 24. The financing will be used for working capital purposes.
• On Nov. 25, a $600,000 accounts receivable purchase facility was provided to a transportation company in California. The financing will be used for working capital purposes.

Crestmark Equipment Finance

• On Nov. 19, a $1,240,537 new lease transaction was completed with a diagnostic imaging services company in the midwestern U.S. The financing will be used for operational equipment.
• A $2,206,352 new lease transaction was completed with a transportation company in the southern U.S. on Nov. 20. The financing will be used for operational equipment.
• On Nov. 23, a $8,343,120 new lease transaction was completed with a steel mill services company in the northeastern U.S. The financing will be used for capital equipment.

Crestmark Vendor Finance

Crestmark Vendor Finance funded $4,592,541 in 49 new transactions in the second half of November. Highlights include:

• An equipment finance transaction was completed with a millwork company in the southern U.S. on Nov. 16. The financing will be used for essential equipment.
• On Nov. 20, an equipment finance transaction was completed with a dry ice manufacturer in the southeastern U.S. The financing will be used for manufacturing equipment.
• A new equipment finance transaction was completed with a trucking company in the midwestern U.S. on Nov. 24. The financing will be used for operational equipment.  
• On Nov. 30, a new lease transaction was completed with an asset recovery company in the southwestern U.S. The financing will be used for transportation equipment.  

Crestmark’s Joint Ventures

• Crestmark’s Joint Ventures division funded a total of $21,490,800 in six operating lease transactions with a solar developer in Maryland in the second half of November. The financing will be used to install solar systems in Minnesota, ranging in size from 1,350 – 1,411 kW-DC, as part of a state community solar program.

Government Guaranteed Lending

• On Nov. 18, a $2,150,000 term loan facility was provided to a solar developer in California. The financing will be used for working capital purposes.  
• A $3,000,000 term loan facility was provided to a solar developer in California on Nov. 19. The financing will be used for working capital purposes.