Crestmark Provides More Than $33MM in ABL and Factoring Solutions in June
Crestmark, the commercial finance division of Pathward, secured a total of $33,772,677 in asset-based lending and factoring financial solutions for 23 new clients in the June. In addition, Crestmark Equipment Finance provided $18,865,360 in 17 new large-ticket transactions and $7,174,032 in 67 new small-ticket vendor transactions and Crestmark’s structured finance group provided $15,689,940 in financing for five new clients.
Crestmark provided the following working capital, asset-based lending and factoring financial solutions, which will be used for various purposes, such as for working capital and to pay off existing lenders:
An $18 million asset-based lending facility to an extrusions manufacturer in Michigan
A $5 million asset-based lending facility to a petroleum products provider in Missouri
A C$2 million ($1.57 million) and $500,000 ledgered line of credit facility to a transportation company in Ontario
A $2 million accounts receivable facility to a freight-all-kinds trucking company in Illinois
A C$1.5 million ($1.17 million) ledgered line of credit facility to an aggregate supplier in Alberta
A $1.5 million ledgered line of credit facility to a contractor in North Carolina
A $1 million accounts receivable facility to a wellsite services provider in Texas
A $500,000 accounts receivable facility to a hospitality staffing company in California
A $300,000 accounts receivable facility to a freight-all-kinds trucking company in New York
A $300,000 accounts receivable facility to a flatbed transportation company in Missouri
A $200,000 accounts receivable facility to a medical hardware supplier in Texas
A $150,000 accounts receivable facility to a hot shot trucking company in Alabama
A $150,000 accounts receivable facility to a refrigerated trucking company in Arkansas
A $150,000 accounts receivable facility to a freight-all-kinds trucking company in Texas
A $150,000 accounts receivable facility to a refrigerated trucking company in California
A $150,000 accounts receivable facility to a freight brokerage in Nebraska
A $150,000 accounts receivable facility to a refrigerated transportation company in Tennessee
A $150,000 accounts receivable facility to a flatbed trucking company in Georgia
A $150,000 accounts receivable facility to a freight-all-kinds trucking company in Mississippi
A $150,000 accounts receivable facility to a freight broker in Kansas
A $150,000 accounts receivable facility to a flatbed trucking company in Texas
A $150,000 accounts receivable facility to a freight-all-kinds trucking company in North Carolina
A $100,000 accounts receivable facility to a dry van trucking company in California
Crestmark Equipment Finance’s transactions included:
$6,256,663 to a sanitation products manufacturer in the Southeast for warehousing equipment
$4,365,295 to an automotive manufacturer in the Southeast for alternative energy equipment
$3,096,140 to a technologies manufacturer in the Northwest for operational equipment
A small-ticket vendor finance equipment finance transaction for a logistics company in the western United States for transportation equipment
A small-ticket vendor finance equipment finance transaction for a waste management company in the eastern United States for capital equipment
A small-ticket vendor finance equipment finance transaction for a health and wellness company in the Midwest for medical equipment
A small-ticket vendor finance equipment finance transaction for a transportation company in the southern United States for transportation equipment
Crestmark provided the following structured finance solutions, which will be used for various purposes, such as for acquisitions and working capital:
A $7.495 million term loan to an investment advisory firm in Michigan
A $6.645 million U.S. Department of Agriculture Business and Industry loan to a hospitality company in Ohio
A $740,000 term loan to an independent insurance agency in Texas
A $679,940 term loan to a solar developer in California
A $130,000 Small Business Administration 7(a) loan to an independent insurance agency in Missouri