Crestmark Delivers More Than $9MM in ABL Solutions in H1/March
Crestmark secured a total of $9,715,246 in asset-based lending financial solutions for six new clients in the first half of March. In addition, Crestmark Equipment Finance provided $7,543,149 in four new lease transactions and Crestmark Vendor Finance provided $4,928,905 in 55 new lease transactions.
Crestmark’s Asset-Based Lending and Factoring
• Provided a $3 million ledgered line of credit facility to a Minnesota-based freight broker, which will use the financing to pay off an existing lender and for working capital purposes
• Provided a $300,000 accounts receivable purchase facility to a Georgia-based refrigerated trucking company, which will use the financing for working capital purposes
• Provided a $2 million ledgered line of credit facility to an Oregon-based backup power supply and distribution company, which will use the financing for working capital purposes
• Provided a C$4 million ($3.18 million) ledgered line of credit facility to an Alberta, Canada-based transportation company, which will use the financing for working capital purposes
• Provided a $250,000 accounts receivable purchase facility to a California-based freight-all-kinds trucking company, which will use the financing for working capital purposes
• Provided a $1 million ledgered line of credit facility to a Massachusetts-based precision manufacturing company, which will use the financing for working capital purposes
Crestmark Equipment Finance
• Completed a $2,223,746 new lease transaction with a wholesale food company in the Midwestern U.S. The company will use the financing for capital equipment.
• Completed a $1,955,811 new lease transaction with an energy management company in the Midwestern U.S. The company will use the financing for IT equipment.
• Completed a $697,993 new lease transaction with an aesthetic clinic in the western U.S. The clinic will use the financing for medical equipment.
• Completed a $2,665,599 new lease transaction with a video telematics company in the western U.S. The company will use the financing for operational equipment.
Crestmark Vendor Finance funded $4,928,905 in 55 new transactions in the first half of March. Some highlights include:
• An equipment finance transaction with a healthcare company in the midwestern U.S. The company will use the financing for medical equipment.
• An equipment finance transaction with a transportation company in the Midwestern U.S. The company will use the financing for transport equipment.
• A new equipment finance transaction with a healthcare company in the southeastern U.S. The company will use the financing for medical equipment.
• A new equipment finance transaction with a trucking company in the southeastern U.S. The company will use the financing for transportation equipment.