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Crestmark Closes Six Deals Totaling $5.5MM in Last Half of June

July 11, 2014, 07:18 AM


Crestmark secured a total of $5.5 million in financial solutions for six new clients in the second half of June. The transactions include:

  • On June 16, a $2,500,000 ledgered line of credit was provided to a paving company in Virginia. The funds will be used to pay off an existing lender and accommodate growth.
  • A $500,000 ledgered line of credit was provided on June 19 to a Michigan manufacturer of conveyor components for working capital purposes.
  • On June 24, a $1,000,000 ledgered line of credit was provided to an Illinois bulk mail fulfillment company.
  • A $750,000 ledgered line of credit was provided on June 26 to a staffing company located in Michigan, which will be used for additional working capital.
  • On June 26, a $500,000 accounts receivable purchase facility was provided to a Minnesota distributor of alternative energy products.  The funds will be used to pay off existing lenders and for working capital.
  • A $300,000 accounts receivable purchase facility was provided on June 30 to a start-up trucking company located in Kentucky.

Crestmark is a nationally known and respected FDIC-insured bank that provides innovative financial solutions for small- to medium-sized businesses. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, factoring and machinery/equipment financing.

 

 





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