Crestmark Closes 11 Transactions Totaling Over $14MM in January

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February 11, 2015, 07:04 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $14,070,000 in financial solutions for eleven new clients in the month of January. The transactions are:

A $7 million accounts receivable purchase facility was provided on January 8 to a Florida computer hardware and software supplier. The financing will be used to pay off a previous lender and for working capital purposes.
On January 12, a $205,000 SBA term loan was provided to an independent insurance agency in Colorado. The financing will be used for acquisition purposes.
A $250,000 traditional factoring facility was provided on January 13 to a women’s apparel designer and manufacturer in New York.
On January 16, a $750,000 traditional factoring facility was provided to a New Jersey apparel manufacturer and distributor.
A $500,000 accounts receivable purchase facility was provided on January 23 to a Texas oilfield waste management company. The financing will be used for working capital purposes.
On January 23, a $3.35 million asset-based line of credit was provided to a steel frame manufacturer in Indiana. The financing will be used for working capital purposes.
A $650,000 SBA term loan facility was provided on January 26 to an independent insurance agency in California. The financing will be used for acquisition purposes.
On January 26, a $365,000 SBA term loan facility was provided to an independent insurance agency in Maine. The financing will be used for debt refinancing.
A $500,000 accounts receivable purchase facility was provided on January 28 to a Florida plastic product manufacturer. The financing will be used for working capital purposes.
On January 28, a $250,000 traditional factoring facility was provided to a California designer and distributor of women’s footwear and accessories.
A $250,000 accounts receivable purchase facility was provided on January 30 to an Illinois trucking 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.