Crestmark Provides More Than $46MM in ABL/Factoring Solutions in December 2021
Crestmark secured a total of $46,424,626 in asset-based lending and factoring financial solutions for 22 new clients and the company’s government guaranteed lending group provided $107.95 million in financing for six new clients in December 2021. In addition, Crestmark Equipment Finance provided $34,752,249 in 35 new transactions and Crestmark Vendor Finance provided $11,852,158 in 116 new transactions.
Asset-based lending and factoring financial solutions to be used for various purposes, such as working capital and to pay off existing lenders, included:
A $20 million participation in a $591.5 million term loan to 52 affiliated skilled nursing facilities in four states
A $5 million accounts receivable facility to a refrigerated transportation company in Florida
A $5 million ledged line of credit facility to a lighting management systems provider in Massachusetts
A $4 million accounts receivable facility to a refrigerated transportation company in Florida
A $3 million accounts receivable facility to a freight all kinds trucking company in Oklahoma
A C$2 million ($1.6 million)) ledgered line of credit facility to a lighting management systems provider in Ontario
A C$2.2 million ($1.76 million) and $300,000 ledgered line of credit facility to a transportation company in Manitoba
A $1 million accounts receivable facility to an intermodal transportation company in Georgia
A $750,000 accounts receivable facility to a freight all kinds trucking company in Michigan
A $750,000 accounts receivable facility to a freight all kinds trucking company in California
A C$600,000 ($479,450) and $150,000 accounts receivable facility to a freight all kinds trucking company in Nova Scotia
A $500,000 accounts receivable facility to a beverage distributor in California
A $400,000 accounts receivable facility to a transportation company in Texas
A $300,000 accounts receivable facility to a refrigerated transportation company in North Carolina
A $300,000 accounts receivable facility to a dry van transportation company in North Carolina
A $250,000 accounts receivable facility to a freight all kinds trucking company in Missouri
A $200,000 accounts receivable facility to a refrigerated trucking company in Illinois
A $200,000 accounts receivable facility to a regional trucking company in Illinois
A $150,000 accounts receivable facility to a dry van trucking company in Florida
A $150,000 accounts receivable facility to a refrigerated trucking company in Texas
A $150,000 accounts receivable facility to a trucking company in Texas
A $150,000 accounts receivable facility to a flatbed trucking company in Georgia
Government guaranteed lending financial solutions to be used for various purposes, such as acquisitions and working capital, included:
A $50 million term loan to a renewable natural gas company in West Virginia
A $50 million USDA B&I loan to a renewable natural gas company in West Virginia
A $4.825 million term loan to an investment advisory firm in Georgia
A $1.95 million SBA 7(a) loan to an automotive parts distributor in California
An $835,000 term loan to a wealth advisory firm in Connecticut
A $340,000 SBA 7(a) loan to a waste management services company in California
Crestmark Equipment Finance transactions included but were not limited to:
$19,750,000 to a renewable energy company in the western United States for alternative energy equipment
$3,068,532 to a pharmaceutical company in the eastern United States for IT equipment
$2,074,051 to a financial services company in the eastern United States for communications equipment
Crestmark Vendor Finance equipment finance clients included but were not limited to:
A ranch in the western United States for operational equipment
A transportation company in the western United States for transportation equipment
A trucking company in the Midwest for transportation equipment
A laboratory in the eastern United States for IT equipment
A transportation company in the Midwest for operational equipment
A medical company in the eastern United States for medical equipment
A medical company in the western United States for medical equipment
A restaurant services company in the western United States for operational equipment