Crestmark Closes Seven Transactions Totaling $14.75MM

October 02, 2013, 07:49 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $14,750,000 in financial solutions for seven new clients in the second half of September.

On September 16, a $1,500,000 asset-based lending facility with advances on accounts receivable and inventory was provided to a Massachusetts seafood distributor.
$500,000 traditional factoring facility was provided on September 18 to a New York wholesaler of men’s apparel.
On September 20, a $3,000,000 traditional factoring facility was provided to a Texas jewelry and accessories importer.
A $5,500,000 asset-based lending facility with advances on accounts receivable, inventory and machinery/equipment was provided on September 24 to a California machine shop. Funding will be used to pay off the prior lender and provide working capital.
On September 25, a $500,000 traditional factoring facility was provided to a Virginia designer and importer of women’s footwear.
A $250,000 accounts receivable purchase facility was provided on September 27 to an Ohio HVAC maintenance and repair company.
On September 30, a $2,500,000 accounts receivable purchase facility was provided to a New Jersey provider of packaging technology.

Crestmark is a nationally known and respected FDIC-insured bank that provides innovative financial solutions for small- to medium-sized businesses.