Crestmark secured a total of $12.675MM in financial solutions for 13 new clients in the first half of August. They include:

• On August 3rd, a traditional factoring facility was provided to a North Carolina furniture manufacturer. The financing will be used for working capital purposes.
• A traditional factoring facility was provided on August 5th to a men’s streetwear apparel company in New Jersey. The financing will be used to pay off previous lender and working capital purposes.
• On August 6, $1 million accounts receivable purchase facility was provided to a provider of transportation and disposal services in Michigan. The financing will be used to pay off previous lender and working capital purposes.
• A traditional factoring facility was provided on August 6th to a New York wholesaler of Italian handmade footwear. The financing will be used for working capital purposes.
• A $2 million asset-based line of credit based on accounts receivable and inventory was provided on August 6th to a wholesaler and retailer of electronic accessories in California. The financing will be used to pay off a previous lender and for working capital purposes.
• A traditional factoring facility was provided on August 6th to a men’s apparel company in California. The financing will be used for working capital purposes.
• On August 7th, a $1.25 million ledgered line of credit was provided to a trucking company in California. The financing will be used for working capital purposes.
• A traditional factoring facility was provided on August 7th to a California swimwear wholesaler. The financing will be used for working capital purposes.
• On August 10th, a $400,000 accounts receivable purchase facility was provided to a staffing solution provider in Michigan. The financing will be used for working capital purposes.
• A $275,000 accounts receivable purchase facility was provided on August 10th to a decorative lighting manufacturer and distributor in Tennessee. The financing will be used to pay off a previous lender.
• On August 10th, a $750,000 accounts receivable purchase facility was provided to a short haul carrier trucking company in Tennessee. The financing will be used for working capital purposes.
• A traditional factoring facility was provided on August 13th to a California manufacturer and distributor of candles, fragrances, and personal care products. The financing will be used for working capital purposes.
• On August 14th, a traditional factoring facility was provided to a manufacturer and distributor of high-quality socks in California. 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.