Crestmark secured a total of $5.4 million in financial solutions for four new clients in the first half of February. The transactions are:

• A $400,000 accounts receivable purchase facility was provided on February 2 to a staffing agency in Maryland. The financing will be used for working capital purposes.
• On February 4, a $1.5 million traditional factoring facility was provided to an apparel retailer in New Jersey. The financing will be used to pay off a previous lender and for working capital purposes.
• A $500,000 accounts receivable purchase facility was provided on February 6 to a distributor of automotive parts in North Carolina. The financing will be used for working capital purposes.
• On February 11, a $3 million accounts receivable purchase facility was provided to a California manufacturer and distributor of footwear. 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. Headquartered in Michigan, with additional offices in California, Florida, Louisiana, Tennessee, New York, and Illinois; and representatives nationwide.