Crestmark Closes Announces Eight Recent Deals Totaling More Than $10.5MM

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February 03, 2016, 07:52 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $10,715,000 in financial solutions for eight new clients in the second half of January. The deals are:

A $250,000 accounts receivable purchase facility was provided on Jan. 19 to a startup freight brokerage in Michigan. The financing will be used for working capital purposes.
On Jan. 19, a $400,000 accounts receivable purchase facility was provided to a startup trucking company in California. The financing will be used for working capital purposes.
A $90,000 SBA 7(a) term loan facility was provided on Jan. 21 to a beer brewery startup in Michigan. The financing will be used for working capital purposes.
On Jan. 25, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Massachusetts. The financing will be used for working capital purposes.
A $2.5 million ledgered line of credit and inventory facility was provided on Jan. 25 to a commercial and janitorial paper wholesaler in Utah. The financing will be used for working capital purposes.
On Jan. 25, a $1 million accounts receivable purchase facility was provided to a transportation provider in Alabama. The financing will be used for equipment financing and working capital purposes.
A $325,000 SBA 7(a) term loan facility was provided on Jan. 27 to an independent insurance agency in Pennsylvania. The financing will be used for acquisition purposes.
On Jan. 28, a $6 million asset-based line of credit facility was provided to a manufacturer of PVC fences and decks in Florida. 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. 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.