Crestmark secured a total of $17.6 million in financial solutions for 13 new clients in the first half of July. The transactions are:

• A $4.4 million SBA 7(a) term loan facility was provided on July 5 to an independent insurance agency in Florida. The financing will be used for acquisition purposes.
• On July 6, a $250,000 SBA 7(a) term loan facility was provided to a hospitality management firm in Georgia. The financing will be used for working capital purposes. 
• A $50,000 accounts receivable purchase facility was provided on July 7 to a trucking company in California. The financing will be used to for working capital purposes.
• On July 8, a $1 million ledgered line of credit facility was provided to a nut and grain importer and exporter in Texas. The financing will be used for working capital purposes.
• A $750,000 accounts receivable purchase facility was provided on July 8 to a trucking company in Tennessee. The financing will be used for working capital purposes.
• On July 12, a $100,000 accounts receivable purchase facility was provided to a trucking company in California. The financing will be used for working capital purposes.
• A $75,000 accounts receivable purchase facility was provided on July 13 to a trucking company in Illinois. The financing will be used for working capital purposes.
• On July 14, a $2.5 million accounts receivable purchase facility was provided to a digital recording company in California. The financing will be used to pay off a previous lender.
• A $600,000 accounts receivable purchase facility was provided on July 14 to a trucking company in Ohio. The financing will be used for working capital purposes.
• On July 15, a traditional factoring facility was provided to a women’s apparel wholesaler in California, using Crestmark’s Fast Track Financing. The financing will be used for working capital purposes.
• A $200,000 ledgered line of credit facility was provided on July 15 to a staffing company in Ohio. The financing will be used for working capital purposes.
• On July 15, a $1.925 million legered line of credit facility was provided to a trucking company in Illinois. The financing will be used to pay off a previous lender and for working capital purposes.
• A $5.5 million asset-based line of credit facility was provided on July 15 to a staffing company in Michigan. 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.