Crestmark Closes Recent Transactions Totaling Nearly $20MM

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November 17, 2016, 07:00 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $19.81 million in financial solutions for 16 new clients in the first half of November.

On Nov. 1, a $391,000 new lease transaction was completed with a candy company in the West.
A $250,000 traditional factoring facility was provided on Nov. 1 to a distributor of women’s apparel in Louisiana. The financing will be used for working capital purposes.
On Nov. 1, a $1 million asset-based line of credit facility was provided to a commercial plumbing company in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
A $2.25 million asset-based line of credit facility was provided on Nov. 2 to a machine parts manufacturer and supplier in Michigan. The financing will be used for working capital purposes.
On Nov. 3, a $1.2 million accounts receivable purchase facility was provided to a trucking company in Illinois. The financing will be used for working capital purposes.
A $975,000 new lease transaction was completed on Nov. 4 with a college in New England.
On Nov. 7, an $8.9 million USDA Business and Industry loan facility was provided to a hospitality management company in Florida. The financing will be used to pay off an existing lender and for working capital purposes.
A $200,000 accounts receivable purchase facility was provided on Nov. 8 to a trucking company in Mississippi. The financing will be used for working capital purposes.
On Nov. 8, a $100,000 accounts receivable purchase facility was provided to a trucking company in Texas. The financing will be used for working capital purposes.
A $1.5 million ledgered line of credit facility was provided on Nov. 8 to packaged food importer and distributor in California. The financing will be used to pay off an existing lender and for working capital purposes.
On Nov. 10, a $350,000 traditional factoring facility was provided to an apparel manufacturer in New Jersey. The financing will be used for working capital purposes.
A $350,000 accounts receivable purchase facility was provided on Nov. 10 to a trucking company in Indiana. The financing will be used for working capital purposes.
On Nov. 10, a $250,000 traditional factoring facility was provided to a men’s apparel manufacturer in New Jersey. The financing will be used for working capital purposes.
A $500,000 accounts receivable purchase facility was provided on Nov. 10 to an IT and engineering service company in Alabama. The financing will be used for working capital purposes.
On Nov. 14, a $750,000 traditional factoring facility was provided to a wholesaler of men’s apparel in New York. The financing will be used for working capital purposes.
An $845,000 new lease transaction was completed on Nov. 15 with a mining company in the West.

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.