Crestmark Closes Nine Transactions Totaling Over $6 Million

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October 07, 2015, 07:23 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $6.59 million in financial solutions for nine new clients in the second half of September. They include:

On Sept. 16, a $300,000 SBA 7(a) term loan facility was provided to an independent insurance agency in North Carolina. The financing will be used for acquisition purposes.
A $540,000 term loan was provided on Sept. 17 to an Illinois trucking company. The financing will be used to purchase new trailers.
A $150,000 accounts receivable purchase facility was provided on Sept. 18 to a trucking company in Pennsylvania. The financing will be used for working capital purposes.
On Sept. 22, a $250,000 accounts receivable purchase facility was provided to a trucking company in Kentucky. The financing will be used for working capital purposes.
On Sept. 29, a $250,000 accounts receivable purchase facility was provided to startup trucking company in Kentucky. The financing will be used for working capital purposes.
A $4 million asset-based line of credit facility was provided on Sept. 30 to a distributor of consumable, health and beauty, and imported grocery products in California. The financing will be used to pay off a previous lender and for working capital purposes.
On Sept. 30, a footwear wholesaler in Florida entered into a funds-as-collected traditional factoring facility with Crestmark.
A $200,000 SBA 7(a) term loan facility was provided on Sept. 30 to an independent insurance agency in New York. The financing will be used to pay off a previous lender.
On Sept. 30, a $900,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Illinois. The financing will be used to pay off a previous lender and for acquisition 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.