Crestmark Closes 20 Deals in the Second Half of September

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October 06, 2016, 07:41 AM

Filed Under: Transaction Announcements

Related: Asseet Based, Crestmark, Crestmark Bank

Crestmark secured a total of $20.57MM in financial solutions for 20 new clients in the second half of September.

A $500,000 accounts receivable purchase facility was provided on Sept. 16 to a staffing company in Kansas. The financing will be used for working capital purposes.
On Sept. 16, a men’s apparel distributor in Florida entered into a funds-as-collected traditional factoring facility with Crestmark. The financing will be used for working capital purposes.
A $2 million ledgered line of credit facility was provided on Sept. 16 to an oilfield chemical company in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
On Sept. 20, a $100,000 accounts receivable purchase facility was provided to a startup trucking company in Illinois. The financing will be used for working capital purposes.
A $750,000 accounts receivable purchase facility was provided on Sept. 21 to a startup trucking company in California. The financing will be used for working capital purposes.
On Sept. 23, a $250,000 traditional factoring facility was provided to an apparel manufacturer in Florida. The financing will be used for working capital purposes.
A distributor of home textiles in New Jersey entered into a funds-as-collected traditional factoring facility with Crestmark on Sept. 23. The financing will be used for working capital purposes.
On Sept. 26, a $500,000 accounts receivable purchase facility was provided to an orthopedic implant manufacturer in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
A $1.5 million ledgered line of credit facility was provided on Sept. 26 to an oil transportation services company in Wyoming. The financing will be used for working capital purposes.
On Sept. 26, a $500,000 ledgered line of credit facility was provided to a precision sheet metal fabrication company in California. The financing will be used for working capital purposes.
A $2 million ledgered line of credit facility was provided on Sept. 27 to an oil and gas service provider in Pennsylvania. The financing will be used to pay off an existing lender and for working capital purposes.
On Sept. 27, a $500,000 accounts receivable purchase facility was provided to a hospitality services company in Florida. The financing will be used for working capital purposes.
A $500,000 accounts receivable purchase facility was provided on Sept. 28 to a poultry processor and distributor in Georgia. The financing will be used for working capital purposes.
On Sept. 29, a $1.425 million SBA 7(a) term loan facility was provided to an independent insurance agency in New York. The financing will be used for acquisition purposes.
A $5 million ledgered line of credit facility was provided on Sept. 29 to an electronics manufacturer in Georgia. The financing will be used to pay off an existing lender and for working capital purposes.
On Sept. 29, a $370,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Texas. The financing will be used for acquisition purposes.
A $100,000 accounts receivable purchase facility was provided on Sept. 30 to a startup trucking company in Texas. The financing will be used for working capital purposes.
On Sept. 30, a $92,500 SBA 7(a) term loan facility was provided to an independent insurance agency in New Jersey. The financing will be used for working capital purposes.
A $4.2 million SBA 7(a) term loan facility was provided on Sept. 30 to a swimming school and recreational center in Utah. The financing will be used for working capital purposes.
On Sept. 30, a $283,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Colorado. The financing will be used 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. Headquartered in Michigan, with additional offices in California, Florida, Louisiana, Tennessee, New York, and Illinois; and representatives nationwide.