Crestmark Closes Eight Recent Transactions Totaling More Than $9MM

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October 21, 2015, 07:35 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $9,070,000 in financial solutions for eight new clients in the first half of October. The transactions include:

On Oct. 1, a $250,000 accounts receivable purchase facility was provided to a startup trucking company in California. The financing will be used for working capital purposes.
A $3.5 million asset-based line of credit facility was provided on Oct. 5 to an importer/distributor of fruit juice, nuts and spices. The financing will be used to pay off a previous lender and for working capital purposes.
A $300,000 SBA 7(a) term loan facility was provided on Oct. 5 to an independent insurance agency in New York. The financing will be used for acquisition purposes.
On Oct. 7, a $500,000 accounts receivable purchase facility was provided to a startup trucking company in Illinois. The financing will be used for working capital purposes.
On Oct. 7, a $500,000 accounts receivable purchase facility was provided to a trucking company in Illinois. The financing will be used for working capital purposes.
A $3.1 million SBA 7(a) term loan facility was provided on Oct. 8 to a hospitality management company in New Jersey. The financing will be used to pay off a previous lender.
A $420,000 SBA 7(a) term loan facility was provided on Oct. 9 to an independent insurance agency in Michigan. The financing will be used for acquisition purposes.
On Oct. 16, a $500,000 accounts receivable purchase facility was provided to a startup trucking company in Georgia. The financing will be used 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.