Crestmark Closes Fifteen Recent Transactions Totaling Over $23MM

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January 09, 2015, 07:19 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $23,225,000 in financial solutions for fifteen new clients in the month of December.

A $225,000 SBA term loan facility was provided on December 1 to a Florida insurance agency. The financing will be used for working capital purposes.
On December 2, a $2 million equipment leasing facility was provided to a renewable energy producer in Pennsylvania. The financing will be used for working capital purposes.
A $700,000 accounts receivable purchase facility was provided on December 3 to a fire safety products distributor in Michigan. The financing will be used to pay off a previous lender and for working capital purposes.
On December 5, a $1 million traditional factoring facility was provided to a New York manufacturer and distributor of women’s apparel.
A $3.8 million SBA term loan facility was provided on December 8 to a Louisiana hotel management company. The financing will be used for acquisition purposes.
On December 12, a $1 million accounts receivable purchase facility was provided to a marine services provider in Rhode Island. The financing will be used for working capital purposes.
A $2 million accounts receivable purchase facility was provided on December 12 to an oil field services provider in Texas and will be used for working capital purposes.
On December 12, a $2 million asset-based line of credit was provided to an accessories designer and manufacturer in Ohio. The financing will be used to pay off a previous lender and for working capital purposes.
A $6 million asset-based line of credit was provided on December 15 to a marketing firm in Ohio. The financing will be used to pay off a previous lender and for working capital purposes.
A $750,000 accounts receivable purchase facility was provided on December 18 to a tool and die manufacturer in South Dakota. The financing will be used for working capital purposes.
On December 18, Crestmark entered into a funds as collected agreement with a New York apparel distributor.
A $750,000 accounts receivable purchase facility was provided on December 23 to a CNC manufacturer in Ohio. The financing will be used to pay off a previous lender.
On December 23, a $2 million asset-based line of credit was provided to commercial printer in Florida. The financing will be used for working capital purposes.
A $500,000 accounts receivable purchase facility was provided on December 26 to a transportation company in Michigan. The financing will be used for working capital purposes.
On December 30, a $500,000 accounts receivable purchase facility was provided to a Missouri transportation company. 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.