Crestmark Provides $3.95MM in ABL Financing in H2/April

Crestmark secured a total of $3.95 million in ABL financial solutions for four new clients in the second half of April. In addition, Crestmark Equipment Finance provided $17,383,632 in eight new lease transactions, Crestmark Vendor Finance provided $8,457,754 in 71 new lease transactions and the Government Guaranteed Lending Division provided $5,423,700 in financing for two new clients.

Crestmark’s Asset-Based Lending Divisions

• Provided a $150,000 accounts receivable purchase facility to a dry freight trucking company in Georgia. The company will use the financing for working capital purposes.

• Provided a $150,000 accounts receivable purchase facility to a dry van transport company in California. The company will use the financing for working capital purposes.

• Provided a $3.5 million accounts receivable purchase facility to a services-provider to natural gas producers in Texas. The company 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 freight all kind transport company in California. The company will use the financing for working capital purposes.

Crestmark Equipment Finance

• Completed a $4,994,700 new lease transaction with a solar energy systems services provider in the western U.S. The company will use the financing for office equipment.

• Completed a $840,401 new lease transaction with a chemical manufacturer in the southern U.S. The company will use the financing for IT equipment.

• Completed a $1,787,109 new lease transaction with an airline company in the southeastern U.S. The company will use the financing for operational equipment.

• Completed a $4,821,487 new lease transaction with a metallurgical mining company in the southeastern U.S. The company will use the financing for construction equipment.

• Completed a $801,000 new lease transaction with an equipment rental company in the southeastern U.S. The company will use the financing for construction equipment.

• Completed a $517,154 new lease transaction with a healthcare foundation in the Midwestern U.S. The company will use the financing for medical equipment.

• Completed a $1,158,534 new lease transaction with an oil and gas industry services provider in the southern U.S. The company will use the financing for capital equipment.

• Completed a $2,463,247 new lease transaction with an internet provider in the western U.S. The company will use the financing for networking equipment.

Crestmark Vendor Finance funded $8,457,754 in 71 new lease transactions in the second half of April. Some highlights include:

• An equipment finance transaction with a dermatologist in the northeastern U.S. The dermatologist will use the financing for laser equipment.

• A lease transaction with a rental company in the southeastern U.S. The company will use the financing for capital equipment.

• A new lease transaction with an imaging center in the southwestern U.S. The center will use the financing for medical equipment.

• A new equipment finance transaction with a private transportation company in the southeastern U.S. The company will use the financing for a vehicle.

The Government Guaranteed Lending Division

• Provided a $638,700 SBA 7(a) term loan facility to an independent insurance agency in Texas. The company will use the financing for acquisition and for working capital purposes.

• Provided a $4.785 million term loan facility to a wealth advisory firm in Maryland. The company will use the financing 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.