Crestmark Secures $6.5MM in ABL Solutions in H1/August

Crestmark secured a total of $6.5 million in ABL financial solutions for four new clients in the first half of August. In addition, Crestmark Equipment Finance provided $524,700 in one new lease transaction, Crestmark Vendor Finance provided $8,165,144 in 96 new lease transactions and Crestmark’s government guaranteed lending group provided $31,820,200 in financing.

Crestmark’s Asset-Based Lending

• Provided a $150,000 accounts receivable purchase facility to a North Carolina-based flatbed transportation company, which will use the financing for working capital purposes.

• Provided a $500,000 ledgered line of credit facility to a Michigan-based seller of glass and stone products, which will use the financing for working capital purposes. Provided a $2.25 million accounts receivable purchase facility to a California-based food and produce transportation company, which will use the financing to pay off an existing lender and for working capital purposes.

• Provided a $3.6 million ledgered line of credit facility to a Michigan-based HVAC duct manufacturer in Michigan, which will use the financing to pay off an existing lender and for working capital purposes.

Crestmark Equipment Finance

• Completed a $524,700 new lease transaction with an IT services provider in the midwestern U.S. The IT services provider will use the financing for security equipment.

• Crestmark Vendor Finance funded $8,165,144 in 96 new transactions in the first half of August. Some highlights include:

• An equipment finance transaction with a trucking company in the southeastern U.S. The company will use the financing for transportation equipment.

• An equipment finance transaction with a plumbing supply company in the northwestern U.S. The company will use the financing for operational equipment.

• A new equipment finance transaction with a physicians’ office in the southeastern U.S. The financing will be used for essential equipment.

• A new equipment finance transaction with a motocross facility in the south central U.S. The facility will use the financing for operational equipment.

Government Guaranteed Lending

• Provided a $4.2 million construction loan facility to a California-based solar developer, which will use the financing for working capital purposes.

• Provided a $14.671 million construction loan facility to a New Hampshire-based solar developer, which will use the financing for working capital purposes.

• Provided a $1.4 million term loan facility to a Maryland-based financial advisory firm, which will use the financing for acquisition purposes.

• Provided a $995,000 SBA 7(a) term loan facility to a Washington-based precast concrete manufacturer, which will use the financing for acquisition and working capital purposes.

• Provided a $6,754,200 construction loan facility to a New Hampshire-based solar developer, which will use the financing for working capital purposes.

• Provided a $3.7 million construction loan facility to a California-based solar developer, which will use the financing for working capital purposes.

• Provided a $100,000 SBA 7(a) term loan facility to a Kansas-based insurance agency, which will use the financing for working capital purposes.