Crestmark secured a total of $11.35 million in financial solutions for four new clients in the first half of December. The transactions are:
- On Dec. 1, a $7 million asset-based line of credit facility was provided to a fiberglass manufacturer and supplier in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
- A $600,000 ledgered line of credit was provided on Dec. 4 to a technical recruiting firm in Texas. The financing will be used for working capital purposes.
- A $750,000 traditional factoring facility was provided on Dec. 14 to a men’s footwear wholesaler in Florida. The financing will be used to pay off an existing lender and for working capital purposes.
- On Dec. 15, a $3 million asset-based line of credit facility was provided to a transportation company in Arkansas. The financing will be used for to pay off an existing lender and 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.