FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Articles / Read Article

Print

Crestmark Provides $30.7MM in Commercial Financing to 88 Businesses

Date: Mar 20, 2019 @ 08:00 AM
Filed Under: Industry News

Crestmark announced it provided more than $30.7 million in commercial financing to 88 businesses in the first half of March. Crestmark Equipment Finance provided $4,041,482 in five new lease transactions; Crestmark secured a total of $8,075,000 in ABL financial solutions for 18 new clients; Crestmark Vendor Finance provided $5,520,502 in 66 new lease transactions; and the Government Guaranteed Lending Division provided $13,100,000 in financing for three new clients in the first half of March.

Crestmark Equipment Finance

  • On March 7, four new lease transactions totaling $3,502,660 were completed with an IT services provider in the southwestern U.S. The financing will be used for IT equipment.
  • A $538,822 new lease transaction was completed with a medical services provider in the southeastern U.S. on March 14. The financing will be used for capital equipment.

Crestmark’s Asset-Based Lending Division

  • On March 1, a $1,000,000 accounts receivable purchase facility was provided to a trucking company in Florida. The financing will be used for working capital purposes.  
  • A $250,000 accounts receivable purchase facility was provided to a trucking company in Florida on March 1. The financing will be used for working capital purposes.  
  • On March 1, a $300,000 accounts receivable purchase facility was provided to a trucking company in Maryland. The financing will be used to pay off an existing lender and for working capital purposes.  
  • A $350,000 accounts receivable purchase facility was provided to a trucking company in North Carolina on March 1. The financing will be used to pay off an existing lender and for working capital purposes.
  • On March 4, a $100,000 accounts receivable purchase facility was provided to a startup trucking company in Florida. The financing will be used for working capital purposes.
  • A $1,000,000 ledgered line of credit facility was provided to a manufacturer of custom metal products in North Carolina on March 5. The financing will be used to pay off an existing lender and for working capital purposes.
  • On March 6, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Texas. The financing will be used for working capital purposes.
  • A $75,000 accounts receivable purchase facility was provided to a trucking company in Washington on March 6. The financing will be used for working capital purposes.
  • On March 7, a $150,000 accounts receivable purchase facility was provided to a trucking company in Ohio. The financing will be used for working capital purposes.
  • A $100,000 accounts receivable purchase facility was provided to a trucking company in Illinois on March 7. The financing will be used for working capital purposes.
  • On March 8, a $150,000 accounts receivable purchase facility was provided to a trucking company in California. The financing will be used for working capital purposes.
  • A $150,000 accounts receivable purchase facility was provided to a trucking company in Missouri on March 8. The financing will be used to pay off an existing lender and for working capital purposes.
  • On March 8, a $150,000 accounts receivable purchase facility was provided to a trucking company in Pennsylvania. The financing will be used for working capital purposes.
  • A $450,000 accounts receivable purchase facility was provided to a trucking company in Pennsylvania on March 8. The financing will be used for working capital purposes.
  • On March 8, a $400,000 accounts receivable purchase facility was provided to a startup trucking company in Texas. The financing will be used for working capital purposes.
  • A $400,000 accounts receivable purchase facility was provided to a trucking brokerage in Louisiana on March 11. The financing will be used for working capital purposes.
  • On March 11, a $400,000 accounts receivable purchase facility was provided to a trucking company in Illinois. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $2,500,000 ledgered line of credit facility was provided to a manufacturer of shipping insulation in New York on March 14. The financing will be used for working capital purposes.

The Government Guaranteed Lending Division

  • On March 5, a $3,805,000 SBA 7(a) term loan facility was provided to a financial advisory firm in California. The financing will be used to pay off an existing lender.
  • A $4,175,000 term loan facility was provided to a financial advisory firm in Ohio on March 8. The financing will be used for acquisition and working capital purposes.
  • On March 14, a $5,120,000 term loan facility was provided to a solar energy developer in California. The financing will be used for the construction of a utility-scale solar farm.

Crestmark Vendor Finance
Crestmark Vendor Finance funded $5,520,502 in 66 transactions to 65 businesses in the first half of March.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.