Crestmark, the Commercial Finance Division of MetaBank, provided more than $23.6 million in commercial financing to 59 businesses in the second half of August. Crestmark secured a total of $3,550,000 in ABL/factoring financial solutions for eight new clients; Crestmark Equipment Finance provided $6,484,462 in four new transactions; Crestmark Vendor Finance provided $4,413,415 in 43 new transactions; and the Government Guaranteed Lending group provided $9,250,000 in financing for four new clients in the second half of August.

Asset-Based Lending and Factoring financial solutions to be used for various purposes such as working capital and to pay off an existing lender included:

Accounts Receivable facilities:

• $1,000,000 to a refrigerated carrier in California.
• $500,000 to a transportation company in Ohio.
• $500,000 to a refrigerated trucking company in California.
• $150,000 to a freight-all-kinds trucking company in Maryland.
• $150,000 to a trucking company in South Carolina.
• $150,000 to a refrigerated trucking company in Florida.
• $100,000 to a freight broker in Texas.

Ledgered Line of Credit facilities:

• $1,000,000 to a less than load (LTL) freight company in Wisconsin.

Equipment Finance transactions included, but were not limited to:

• A renewable energy producer in the western U.S. for alternative energy equipment.

Vendor Finance equipment finance transactions included, but were not limited to:

• A trucking company in the northwestern U.S. for operational equipment.  
• A cleaning company in the southern U.S. for operational equipment.
• A transportation company in the southern U.S. for transportation equipment.
• A trucking company in the midwestern U.S. for transportation equipment.

Government Guaranteed Lending financial solutions, to be used for various purposes such as acquisition, working capital, and more included:

• $7,200,000 term loan to a solar company in California.
• $895,000 SBA 7(a) loan to a packaging manufacturer in Texas.
• $800,000 SBA 7(a) loan to an insurance agency in Georgia.
• $355,000 SBA 7(a) loan to a property management company in Alabama.