Crestmark Secures $53.3MM in ABL and Factoring Solutions in H1/June
Crestmark, the commercial finance division of MetaBank, secured a total of $53.3 million in asset-based lending and factoring financial solutions for 17 new clients in the first half of June. In addition, Crestmark Equipment Finance provided $964,688 in two new transactions, Crestmark Vendor Finance provided $2,600,586 in 21 new transactions and Crestmark’s government guaranteed lending group provided $8.84 million in financing for two new clients.
Asset-Based Lending and Factoring
Accounts Receivable Facilities
$150,000 to a refrigerated trucking company in Texas
$250,000 to a refrigerated trucking company in California
$100,000 to a trucking company in Indiana
$500,000 to a transportation company in Texas
$400,000 to a refrigerated trucking company in Ohio
$150,000 to a freight-all-kinds trucking company in North Carolina
$1 million to a freight-all-kinds trucking company in California
$15 million to a freight brokerage in Florida
$400,000 to a freight-all-kinds trucking company in Florida
$150,000 to a trucking company in Missouri
$650,000 to a transportation company in Florida
$150,000 to a freight-all-kinds trucking company in Illinois
$500,000 to a transportation company in Texas
Asset-Based Loan Facilities
$6 million to a wholesale meat processor and distributor in California
$20 million to a cell phone manufacturing company in Florida
$5.4 million to a medical device manufacturer in South Dakota
Ledgered Line of Credit Facilities
$2.5 million to a freight services company in Tennessee
Vendor Finance Highlights
An equipment finance transaction for a medical company in the southern U.S. for medical equipment
An equipment finance transaction for a trucking company in the southcentral U.S. for transportation equipment
An equipment finance transaction for a crane company in the southcentral U.S. for transportation equipment
An equipment finance transaction for a medical spa company in the midwestern U.S. for medical equipment
Government Guaranteed Lending
Provided a $440,000 SBA 7(a) loan to a printing services company in Florida
Provided a $8.4 million USDA Business and Industry loan to a hotel in Texas.