Crestmark secured a total of $7,065,000 in financial solutions for six new clients in the first half of May. These transactions include:

• A $100,000 accounts receivable purchase facility was provided on May 4 to a trucking company in Kentucky. The financing will be used for working capital purposes.
• On May 5, a $3.2 million accounts receivable purchase facility was provided to an oilfield services provider in Oklahoma. 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 May 6 to a freight broker in Michigan. The financing will be used for working capital purposes.
• On May 8, a $1.015 million SBA term loan facility was provided to an independent insurance agency in Idaho. The financing will be used for acquisition purposes.
• A $1 million accounts receivable purchase facility was provided on May 13 to a fuel distributor and transporter in South Carolina. The financing will be used for working capital purposes.
• On May 14, a $1 million accounts receivable purchase facility was provided to an IT staffing and consulting firm in Pennsylvania. The financing will be used to pay off a previous lender and 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.