Crestmark secured a total of $7,573,000 in financial solutions for five new clients in the second half of July.

• A $400,000 accounts receivable purchase facility was provided on July 19 to a trucking company in California. The financing will be used for working capital purposes.
• On July 19, an $873,000 term loan facility was provided to an independent insurance agency in Florida. The financing will be used for acquisition purposes. 
• A $250,000 accounts receivable purchase facility was provided on July 21 to a trucking company in Alabama. The financing will be used for working capital purposes.
• On July 21, a $450,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Ohio. The financing will be used for working capital purposes.
• A $5,.6 million asset-based line of credit facility was provided on July 22 to a label and packaging manufacturer in Ohio. 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.