Crestmark Closes Eleven Transactions in Second Half of June

Email icon - Send a Message on ABL Advisor

July 02, 2015, 07:42 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $22.1 million in financial solutions for eleven new clients in the second half of June. The transactions are:

A $250,000 accounts receivable purchase facility was provided on June 16 to a medical software and hardware manufacturer in Delaware. The financing will be used for working capital purposes.
On June 16, a $500,000 accounts receivable purchase facility was provided to a staffing and extended learning services provider in Maryland.
A $1.5 million traditional factoring facility was provided on June 17 to a toy manufacturer in Texas. The financing will be used for working capital purposes.
On June 18, a $400,000 accounts receivable purchase facility was provided to a freight broker in Kentucky. The financing will be used for working capital purposes.
A $4.8 million accounts receivable purchase was provided on June 18 to a textile products manufacturer and distributor in Massachusetts. The financing will be used to pay off a previous lender and for working capital purposes.
On June 19, a $7.5 million asset-based line of credit was provided to a metal products manufacturer in Indiana. The financing will be used for working capital purposes.
A $500,000 accounts receivable purchase facility was provided on June 19 to a trucking company in Georgia. The financing will be used for working capital purposes.
On June 23, a $500,000 accounts receivable purchase facility was provided to an IT staffing agency in Nevada. The financing will be used for working capital purposes.
A $2.5 million asset-based line of credit was provided on June 26 to a specialty steel products manufacturer in Texas. The financing will be used to pay off a previous lender and for working capital purposes.
On June 29, a $2.15 million asset-based line of credit was provided to an HVAC products manufacturer in Michigan. The financing will be used for working capital purposes.
A $1.5 million accounts receivable purchase facility was provided on June 29 to a medical supplies manufacturer in New York. 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.