Crestmark Closes 19 Transactions Totaling in the First Half of May

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May 19, 2016, 07:54 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $16.265 million in financial solutions for 19 new clients in the first half of May. The deals include:

$150,000 accounts receivable purchase facility was provided on May 2 to a trucking company in Washington. The financing will be used for working capital purposes.
On May 4, a $450,000 accounts receivable purchase facility was provided to a trucking company in Minnesota. The financing will be used for working capital purposes.
A $200,000 accounts receivable purchase facility was provided on May 5 to a startup trucking company in Florida. The financing will be used for working capital purposes.
On May 5, a $500,000 accounts receivable purchase facility was provided to a plastics manufacturer in Florida. The financing will be used for working capital purposes.
A $500,000 accounts receivable purchase facility was provided on May 5 to a packaging company in Georgia. The financing will be used for working capital purposes.
On May 5, a $1.375 million SBA 7(a) term loan facility was provided to an independent insurance agency in Oklahoma. The financing will be used to pay off an existing lender and for acquisition purposes.
A $400,000 accounts receivable purchase facility was provided on May 6 to a trucking company in Illinois. The financing will be used to pay off an existing lender and for working capital purposes.
A $2 million accounts receivable purchase facility was provided on May 6 to a parts supplier for the oil and gas industry in Louisiana. The financing will be used to pay off an existing lender and for working capital purposes.
On May 11, a $5.27 million SBA 7(a) term loan facility was provided to a hospitality management group in Georgia. The financing will be used for acquisition and working capital purposes.
A $3 million ledgered line of credit facility was provided on May 11 to a telecommunications installation contractor in Illinois. The financing will be used to pay off a previous lender and for working capital purposes.
On May 12, a $750,000 accounts receivable purchase facility was provided to a trucking brokerage in New Jersey. The financing will be used for working capital purposes.
A $250,000 accounts receivable purchase facility was provided on May 12 to a trucking company in Florida. The financing will be used to pay off an existing lender and for working capital purposes.
On May 12, a $100,000 accounts receivable purchase facility was provided to a trucking company in Iowa. The financing will be used for working capital purposes.
A $250,000 accounts receivable purchase facility was provided on May 13 to a trucking company in Mississippi. The financing will be used for working capital purposes.
On May 13, a $145,000 accounts receivable purchase facility was provided to a startup trucking company in Arizona. The financing will be used for working capital purposes.
A $200,000 accounts receivable purchase facility was provided on May 13 to a trucking company in Pennsylvania. The financing will be used for working capital purposes.
On May 13, a $75,000 accounts receivable purchase facility was provided to a trucking company in Minnesota. The financing will be used for working capital purposes.
A $500,000 accounts receivable purchase facility was provided on May 13 to a trucking company in Alabama. 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. 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.