FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Press Releases / Read Press Release

Print

Crestmark Provides Over $79MM in Financing to 87 Businesses in 2nd Half of December

January 12, 2021, 08:10 AM
Filed Under: Industry News
Related: Crestmark


Crestmark secured a total of $9,700,000 in ABL financial solutions for four new clients; Crestmark Equipment Finance provided $25,440,689 in ten new lease transactions; Crestmark Vendor Finance provided $5,792,233 in 65 new lease transactions; and the Government Guaranteed Lending group provided $38,165,000 in financing for eight new clients in the second half of December.

Crestmark’s Asset-Based Lending:

  • On Dec. 16, a $3,000,000 asset-based lending facility was provided to a blender and distributor of quality ink products in Michigan. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $200,000 accounts receivable purchase facility was provided to a freight all kinds transportation in Michigan on Dec. 21. The financing will be used for working capital purposes.
  • On Dec. 23, a $4,000,000 asset-based lending facility was provided to an oilfield materials distributor in Louisiana. The financing will be used for acquisition purposes.
  • A $2,500,000 accounts receivable purchase facility was provided to a transportation company in California on Dec. 23. The financing will be used to pay off an existing lender and for working capital purposes.

Crestmark Equipment Finance:

  • On Dec. 16, a $675,395 new lease transaction was completed with a networking provider in the western U.S. The financing will be used for IT equipment.
  • A $4,454,400 new lease transaction was completed with an electrical equipment manufacturing company in the eastern U.S. on Dec. 16. The financing will be used for operational equipment. 
  • On Dec. 17, a $1,660,930 new lease transaction was completed with an entertainment and hospitality company in the western U.S. The financing will be used for IT equipment. 
  • A $1,065,323 new lease transaction was completed with a facility support services company in the western U.S. on Dec. 21. The financing will be used for capital equipment. 
  • On Dec. 21, a $810,442 new lease transaction was completed with a business services and marketing company in the midwestern U.S. The financing will be used for IT equipment.
  • A $4,328,176 new lease transaction was completed with an automotive manufacturer in the southeastern U.S. on Dec. 23. The financing will be used for operational equipment. 
  • On Dec. 23, a $3,963,582 new lease transaction was completed with an apparel company in the southeastern U.S. The financing will be used for capital equipment. 
  • A $3,495,856 new lease transaction was completed with a global manufacturing company in the midwestern U.S. on Dec. 23. The financing will be used for IT equipment. 
  • On Dec. 23, a $4,000,000 new lease transaction was completed with an outsourcing services provider in the western U.S. The financing will be used for communications equipment.
  • A $986,585 new lease transaction was completed with a window and door manufacturer in the northwestern U.S. on Dec. 30. The financing will be used for capital equipment.

Crestmark Vendor Finance funded $5,792,233 in 65 new transactions in the second half of December. Some highlights include:

  • An equipment finance transaction was completed with a medical office in the southeastern U.S. on Dec. 16. The financing will be used for essential equipment.
  • On Dec. 23, an equipment finance transaction was completed with a construction company in the western U.S. The financing will be used for operational equipment.
  • A new equipment finance transaction was completed with a manufacturing company in the western U.S. on Dec. 28. The financing will be used for essential equipment.  
  • On Dec. 31, a new equipment finance transaction was completed with a medical imaging provider in the northwestern U.S. The financing will be used for medical equipment. 

Government Guaranteed Lending:

  • On Dec. 18, a $2,794,300 USDA B&I term loan facility was provided to a solar developer in Missouri. The financing will be used to pay off an existing lender. 
  • A $10,505,400 term loan facility was provided to a solar developer in New Hampshire on Dec. 22. The financing will be used for construction purposes. 
  • On Dec. 28, a $1,770,000 term loan facility was provided to a wealth advisory firm in Pennsylvania. The financing will be used for acquisition purposes and to pay off an existing lender. 
  • A $3,141,900 USDA B&I term loan facility was provided to a solar developer in Missouri on Dec. 29. The financing will be used to pay off an existing lender and for working capital purposes. 
  • On Dec. 31, a $2,878,800 term loan facility was provided to a solar developer in North Carolina. The financing will be used for construction purposes.  
  • A $3,419,600 term loan facility was provided to a solar developer in North Carolina on Dec. 31. The financing will be used for construction purposes. 
  • On Dec. 31, a $11,400,000 term loan facility was provided to a solar developer in California. The financing will be used for working capital purposes. 
  • A $2,255,000 term loan facility was provided to a financial advisory firm in North Carolina on Dec. 31. The financing will be used for acquisition and for working capital purposes.




Week's News



Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.