Crestmark Closes Nine Transactions Totaling $6.95MM in Second Half of March

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April 03, 2015, 07:33 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $6.95 million in financial solutions for nine new clients in the second half of March. The transactions are:

A $250,000 accounts receivable purchase facility was provided on March 16 to a trucking company in Pennsylvania. The financing will be used for working capital purposes.
On March 19, a $200,000 accounts receivable purchase facility was provided to a Texas land surveying and oilfield services provider. The financing will be used for working capital purposes.
A $400,000 accounts receivable purchase facility was provided on March 19 to a trucking company in North Carolina. The financing will be used for working capital purposes.
On March 20, a $2 million asset-based line of credit was provided to a third-party logistics company in Michigan. The financing will be used for acquisition and working capital purposes.
A $350,000 accounts receivable purchase facility was provided on March 23 to a printing services provider in North Carolina. The financing will be used for working capital purposes.
On March 26, a $2.5 million asset-based line of credit and term loan facility was provided to a thermoforming services provider in Wisconsin. The financing will be used for to pay off a previous lender and for working capital purposes.
A $500,000 traditional factoring facility was provided on March 30 to an apparel designer and manufacturer in Florida.
On March 31, a women’s luxury sportswear and street fashion apparel distributor in New York entered into a funds-as-collected factoring facility with Crestmark.
A $750,000 traditional factoring facility was provided on March 31 to a feminine hygiene product designer and distributor in Oregon.

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.