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Crestmark Closes Three Recent Deals Totaling Over $4.5MM

April 03, 2014, 07:29 AM

Crestmark secured a total of $4,750,000 in financial solutions for three new clients in final two weeks of March. They are:

  • On March 19 a $1.5 million asset based lending facility was provided to a supplier of LED light bulbs in Michigan. The funds will be used for working capital needs and to facilitate growth.
  • A $3 million ledgered line of credit was provided on March 28 to a Michigan automotive coatings company. The facility was used for working capital purposes.
  • On March 28, a $250,000 accounts receivable purchase facility was secured to provide working capital to a Michigan start-up freight broker.

Crestmark is a nationally known and respected FDIC-insured bank that provides innovative financial solutions for small- to medium-sized businesses.

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