Crestmark Closes $17MM in Transactions in H2/July

AUG 5, 2015 - 6:57 am

During the second half of July, Crestmark secured a total of $17,008,000 in financial solutions for 13 new clients including:

On July 17, a $250,000 accounts receivable purchase facility was provided to a trucking company in Georgia. The financing will be used for working capital purposes.
A $3,000,000 asset-based line of credit was provided on July 17th to an apparel manufacturer in Ohio. The financing will be used to finance new customers and enable growth.
On July 20, a $250,000 accounts receivable purchase facility was provided to a startup trucking company in Kentucky. The financing will be used for working capital purposes.
A $1,000,000 ledgered line of credit was provided on July 21st to an importer of manufacturing materials in Pennsylvania. The financing will be used to pay off a previous lender and for working capital purposes.
A $2,000,000 sale leaseback was provided on July 23rd to a technology manufacturer in Texas. The financing will be used to pay off previous lender and for working capital purposes.
On July 24, a $250,000 accounts receivable purchase facility was provided to a trucking company in Ontario, Canada. The financing will be used for working capital purposes.
A $2,750,000 asset-based line of credit based on receivables and inventory was provided on July 24th to a tool and die manufacturer in Michigan. The financing will be used for asset acquisition and working capital purposes.
On July 28, traditional factoring facility was provided to an apparel wholesaler in Florida. The financing will be used to pay off previous lender and provide working capital.
A $250,000 traditional factoring facility was provided on July 28th to an apparel wholesaler in New York. The financing will be used to provide working capital.
On July 30, a $250,000 accounts receivable purchase facility was provided to a start-up trucking company in Illinois. The financing will be used for working capital purposes.
A $2,614,000 SBA term loan facility was provided on July 30th to a California insurance agency. The financing will be used for acquisition purposes.
A $1,385,000 SBA term loan facility was provided on July 31st to a Florida insurance agency. The financing will be used for acquisition purposes.
On July 31, $3,370,000 in a ledgered line of credit, inventory line, and equipment term loan was provided to a plastic injection molding services provider in Illinois. The financing will be used to pay off a previous lender.