Crestmark Closes 14 Recent Transactions Totaling More Than $8 Million

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June 02, 2016, 07:22 AM

Filed Under: Transaction Announcements

Crestmark secured a total of $8.775 million in financial solutions for 14 new clients in the second half of May.

A $500,000 accounts receivable purchase facility was provided on May 19 to a parts supplier for the oil and gas industry in Texas. The financing will be used for working capital purposes.
On May 19, a $200,000 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 accounts receivable purchase facility was provided on May 19 to a trucking company in Alabama. The financing will be used for working capital purposes.
On May 20, a $1 million traditional factoring facility was provided to a mattress manufacturer in Georgia. The financing will be used to pay off an existing lender and for working capital purposes.
A $250,000 traditional factoring facility was provided on May 20 to a men’s footwear wholesaler in Florida. The financing will be used for working capital purposes.
On May 24, a $700,000 a ledgered line of credit facility was provided to an industrial supply and label company in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
A $75,000 accounts receivable purchase facility was provided on May 24 to a trucking company in Pennsylvania. The financing will be used for working capital purposes.
On May 25, a $300,000 ledgered line of credit facility was provided to an aircraft repair company in Virginia. The financing will be used for working capital purposes.
A $500,000 accounts receivable purchase facility was provided on May 26 to a machinery and tooling manufacturer in Michigan. The financing will be used for working capital purposes.
On May 27, a $750,000 traditional factoring facility was provided to an importer and wholesaler of men’s and women’s footwear in New Jersey. The financing will be used for working capital purposes.
A $500,000 traditional factoring facility was provided on May 27 to a swimwear and active wear company in Florida. The financing will be used for working capital purposes.
On May 27, a $250,000 accounts receivable purchase facility was provided to a trucking company in Texas. The financing will be used to pay off a previous lender and for working capital purposes.
A $250,000 accounts receivable purchase facility was provided on May 27 to a start-up trucking company in Tennessee. The financing will be used for working capital purposes.
On May 31, a $2 million ledgered line of credit facility was provided to an electronics manufacturer in Ohio. 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.