Crestmark Secures $14.34MM in ABL Transactions in H2/May
Crestmark secured $14.34 million in ABL financial solutions for 11 new clients in the second half of May. In addition, Crestmark Equipment Finance provided $2,269,805 in two new lease transactions, Crestmark Vendor Finance provided $8,645,911 in 90 new lease transactions and Crestmark’s Government Guaranteed Lending group provided $5.965 million in financing for two new clients.
Crestmark’s Asset-Based Lending Division
Provided a $9.75 million asset-based line of credit facility to a lighting conversion program provider in Michigan. The financing will be used to pay off an existing lender and for working capital purposes.
Provided a $1.44 million ledgered line of credit facility to an advertising and marketing company in Ontario. The financing will be used to pay off an existing lender.
Provided a $150,000 accounts receivable purchase facility to a dry van trucking company in New Jersey. The financing will be used for working capital purposes.
Provided a $200,000 accounts receivable purchase facility to a flatbed trucking company in California. The financing will be used to pay off an existing lender and for working capital purposes.
Provided a $1 million accounts receivable purchase facility to a brokered freight all kind transport company in Colorado. The financing will be used to pay off an existing lender and for working capital purposes.
Provided a $150,000 accounts receivable purchase facility to a startup trucking company in Illinois. The financing will be used for working capital purposes.
Provided a $150,000 accounts receivable purchase facility to a refrigerated and dry van trucking company in Texas. The financing will be used for working capital purposes.
Provided a $300,000 accounts receivable purchase facility to a freight all kind transportation company in California. The financing will be used for working capital purposes.
Provided a $500,000 ledgered line of credit facility to a plastic injection molding manufacturer in California. The financing will be used for working capital purposes.
Provided a $200,000 accounts receivable purchase facility to a freight all kind transport company in Indiana. The financing will be used for working capital purposes.
Provided a $500,000 accounts receivable purchase facility to a trucking company in Georgia. The financing will be used for working capital purposes.
Crestmark Equipment Finance
Completed a $1,221,866 new lease transaction with an equipment supplier in the western U.S. The financing will be used for capital equipment.
Completed a $1,047,939 new lease transaction with a heavy equipment supplier in the western U.S. The financing will be used for construction equipment.
Crestmark Vendor Finance funded $8,645,911 in 90 new transactions in the second half of May. Some highlights include:
An equipment finance transaction with a distribution company in the southeastern U.S. The financing will be used for operational equipment.
An equipment finance transaction with a surgical office in the southeastern U.S. The financing will be used for medical equipment.
A new equipment finance transaction with an excavation company in the northeastern U.S. The financing will be used for operational equipment.
A new equipment finance transaction with a logistics company in the northwestern U.S. The financing will be used for transportation equipment.
Crestmark’s Government Guaranteed Lending Division
Provided a $1.19 million SBA 7(a) term loan facility to a restaurant in New Jersey. The financing will be used for acquisition and working capital purposes.
Provided a $4.775 million term loan facility to an asset management company in California. The financing will be used for acquisition and working capital purposes.
Crestmark, a division of MetaBank, provides asset-based lending, accounts receivable financing, lines of credit, term loans, factoring, government guaranteed lending, machinery/equipment financing and equipment leasing.