Crestmark Secures $48.85MM in ABL/Factoring Solutions in H2/May
Crestmark secured a total of $48.85 million in asset-based lending and factoring financial solutions for 14 new clients and its government guaranteed lending group provided $2.255 million in financing for three new clients in the second half of May. In addition, Crestmark Equipment Finance provided $11,977,955 in 13 new transactions and Crestmark Vendor Finance provided $3,492,993 in 37 new transactions.
Crestmark’s Asset-Based Lending and Factoring
Provided a $3 million ledgered line of credit facility to a Florida-based staffing company, which will use the financing to pay off an existing lender and for working capital purposes
Provided a $500,000 accounts receivable purchase facility to a Kentucky-based trucking company, which will use the financing for working capital purposes
Provided a $300,000 accounts receivable purchase facility to a Michigan-based flatbed trucking company, which will use the financing for working capital purposes
Provided a $150,000 accounts receivable purchase facility to an Arkansas-based dry van transportation company, which will use the financing for working capital purposes
Provided a $150,000 accounts receivable purchase facility to a Florida-based dry van transportation company, which will use the financing for working capital purposes
Provided a $200,000 accounts receivable purchase facility to a Georgia-based refrigerated 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 Florida-based trucking company, which will use the financing for working capital purposes
Provided nine accounts receivable purchase facilities totaling $15 million to a California-based transportation group, which will use the financing for working capital purposes
Provided a $10 million term loan facility to an Arkansas-based healthcare facilities group, which will use the financing for costs associated with an acquisition and for working capital
Provided a $2 million accounts receivable purchase facility to an Illinois-based steel distributor, which will use the financing for working capital purposes
Provided a $7 million asset-based line of credit facility to a Florida-based seafood wholesaler, which will use the financing to pay off an existing lender and for working capital purposes
Provided a $400,000 accounts receivable purchase facility to an Indiana-based transportation company, which will use the financing to pay off an existing lender and for working capital purposes
Provided a $5 million ledgered line of credit facility to a Texas-based seafood products provider, which will use the financing to pay off an existing lender and for working capital purposes
Provided a $5 million accounts receivable purchase facility to an Illinois-based nationwide transportation company, which will use the financing to pay off an existing lender and for working capital purposes
Crestmark Equipment Finance Highlights
Completed a $2,458,775 new lease transaction with a state governmental agency in the southern U.S. The agency will use the financing for operational equipment.
Completed a $2,240,861 new lease transaction with a petrochemical manufacturing company in the western U.S. The manufacturing company will use the financing for capital equipment.
Crestmark Vendor Finance Highlights
Completed a new equipment finance transaction with a transportation company in the southern U.S. The transportation company will use the financing for operational equipment.
Completed a new equipment finance transaction with a dental laboratory in the southern U.S. The laboratory will use the financing for operational equipment.
Completed an equipment finance transaction with an auto repair company in the northeastern U.S. The auto repair company will use the financing for operational equipment.
Completed an equipment finance transaction with a medical company in the northeastern U.S. The medical company will use the financing for operational equipment.
Crestmark’s Government Guaranteed Lending Group
Provided a $145,000 SBA term loan facility to a Maryland-based printing services company, which will use the financing for acquisition purposes
Provided a $1.63 million SBA 7(a) term loan facility to an Ohio-based investment advisory firm, which will use the financing for acquisition purposes
Provided a $480,000 SBA 7(a) loan facility to a New Hampshire-based printing parts manufacturer, which will use the financing for acquisition purposes