Crestmark Closes 13 Recent Transactions

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May 04, 2016, 07:19 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $7.57 million in financial solutions for 13 new clients in the second half of April. They include:

A $550,000 accounts receivable purchase facility was provided on April 20 to a startup trucking company in Texas. The financing will be used for working capital purposes.
On April 21, a $1.5 million ledgered line of credit facility was provided to a distributor of printed promotional products in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
A $100,000 accounts receivable purchase facility was provided on April 22 to a startup trucking company in California. The financing will be used for working capital purposes.
On April 22, a $250,000 traditional factoring facility was provided to a handbag manufacturer in California. The financing will be used for working capital purposes.
A $125,000 accounts receivable purchase facility was provided on April 25 to a trucking company in California. The financing will be used for working capital purposes.
On April 25, a $150,000 SBA 7(a) term loan facility was provided to an independent insurance agency in North Carolina. The financing will be used for acquisition purposes.
A $2 million accounts receivable purchase facility was provided on April 25 to a trucking company in Illinois. The financing will be used to pay off an existing lender and for working capital purposes.
On April 26, a $1.25 million ledgered line of credit facility was provided to a wheel and caster distributor in Michigan. The financing will be used to pay off an existing lender and for working capital purposes.
A men's, women’s, and children’s apparel importer in California entered into a funds-as-collected traditional factoring facility with Crestmark on April 26. The financing will be used for working capital purposes.
On April 27, a $750,000 accounts receivable purchase facility was provided to a battery cabinet manufacturer in Wisconsin. The financing will be used to pay off an existing lender and for working capital purposes.
A $300,000 accounts receivable purchase facility was provided on April 27 to a trucking company in Kentucky. The financing will be used to pay off a previous lender and for working capital purposes.
On April 28, a $345,000 SBA 7(a) term loan facility was provided to an independent insurance agency in California. The financing will be used for acquisition purposes.
A $250,000 accounts receivable purchase facility was provided on April 29 to a trucking company in California. 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.