Crestmark Secures $38.25MM in ABL Solutions for 12 Clients in H1/Dec
Crestmark secured a total of $38.25 million in ABL financial solutions for 12 new clients, Crestmark Equipment Finance provided $7,262,607 in six new lease transactions, Crestmark Vendor Finance provided $6,451,914 in 67 new lease transactions, Crestmark’s joint ventures division provided $13,506,620 in four new transactions and Crestmark’s government guaranteed lending group provided $18,470,800 in financing for four new clients in the first half of December.
Crestmark’s Asset-Based Lending
Provided a $400,000 accounts receivable purchase facility to an Illinois-based refrigerated transportation company, which will use the financing for working capital purposes.
Provided a $5 million asset-based lending facility to a Colorado-based manufacturer and distributor of nutraceuticals, which will use the financing to pay off an existing lender and for working capital purposes.
Provided a $150,000 accounts receivable purchase facility to a Texas-based freight all kinds trucking company, which will use the financing to pay off an existing lender and for working capital purposes.
Provided a $150,000 accounts receivable purchase facility to a Washington-based freight broker, which will use the financing for working capital purposes.
Provided a $6 million ledgered line of credit facility to a California-based apparel wholesaler/distributor, which will use the financing to pay off an existing lender and for working capital purposes.
Provided a $1.85 million accounts receivable purchase facility to a Washington-based refrigerated freight transportation company, which will use the financing for working capital purposes.
Provided a $500,000 accounts receivable purchase facility to a transportation company in Brampton, ON. The financing will be used to pay off an existing lender and for working capital purposes.
Provided a $500,000 accounts receivable purchase facility to an Alabama-based freight broker, which will use the financing for working capital purposes.
Provided a $16 million asset-based lending facility to an Illinois-based commercial/off-road tire service company, which will use the financing to pay off an existing lender and for working capital purposes.
Provided a $6 million asset-based lending facility to a North Carolina-based manufacturer and distributor of snack foods, which will use the financing to pay off an existing lender and for working capital purposes.
Provided a $200,000 accounts receivable purchase facility to a Texas-based flatbed trucking company, which will use the financing for working capital purposes.
Provided a $1.5 million accounts receivable purchase facility to a Georgia-based freight brokerage, which will use the financing for working capital purposes.
Crestmark Equipment Finance
Completed a $2,108,152 new lease transaction with a global manufacturer in the northeastern U.S. The financing will be used for IT equipment.
Completed a $1,303,120 new lease transaction with a security company in the eastern U.S. The financing will be used for capital equipment.
Completed a $931,400 new lease transaction with a telecommunications company in the northeastern U.S. The financing will be used for IT equipment.
Completed a $1,607,294 new lease transaction with a facility support services company in the northwestern U.S. The financing will be used for capital equipment.
Completed a $525,107 new lease transaction with an industrial scales manufacturer in the midwestern U.S. The financing will be used for office equipment.
Completed a $787,534 new lease transaction with an energy management company in the midwestern U.S. The financing will be used for IT equipment.
Crestmark Vendor Finance funded $6,451,914 in 67 new transactions in the first half of December. Some highlights include:
An equipment finance transaction with a medical office in the southern U.S. The financing will be used for essential equipment.
A lease transaction with a recycling company in the midwestern U.S. The financing will be used for operational equipment.
A new equipment finance transaction with an ambulance service company in the midwestern U.S. The financing will be used for operational equipment.
A new lease transaction with a distribution company in the southern U.S. The financing will be used for transportation equipment.
Crestmark’s Government Guaranteed Lending Group
Provided a $972,000 term loan facility to a Missouri-based solar developer, which will use the financing to pay off an existing lender and for acquisition purposes.
Provided a $2,138,800 USDA B&I term loan facility to a Missouri-based solar developer, which will use the financing to pay off an existing lender.
Provided a $13.5 million term loan facility to a Connecticut-based solar developer, which will use the financing for working capital purposes.
Provided a $1.86 million SBA 7(a) loan facility to a New Jersey-based nutritional supplements provider, which will use the financing for acquisition and for working capital purposes.
Crestmark’s joint ventures division funded a total of $13,506,620 in four operating lease transactions with a solar developer in Maryland in the first half of December. The solar systems, located in Minnesota, range in size from 1,178 to 1,393 kW-DC and will be part of a state community solar program.