Crestmark Closes $18.2MM with 19 New Clients in H2/October

NOV 3, 2017 - 7:30 am

Crestmark secured a total of $18.2 million in financial solutions for 19 new clients in the second half of October. Outlined below are brief descriptions of the transactions:

$250,000 – Traditional factoring facility to a distributor of fashion accessories in Florida. The financing will be used for working capital purposes.
$300,000 – Accounts receivable purchase facility to a trucking company in California. The financing will be used for working capital purposes.
$100,000 – Accounts receivable purchase facility to a trucking company in Texas. The financing will be used for working capital purposes.
$500,000 – Accounts receivable purchase facility to a distributor of rubber. The financing will be used for working capital purposes.
$150,000 – Accounts receivable purchase facility to a trucking company in Florida. The financing will be used for working capital purposes.
$3.76 million – $2.5 million ledgered line of credit facility and a $1.26 million term loan facility to an industrial pump servicing company in Texas. The financing will be used to pay off an existing lender, for equipment financing and for working capital purposes.
$400,000 – Accounts receivable purchase facility to a trucking company in Pennsylvania. The financing will be used for working capital purposes.
$2.2 million – New lease transaction was completed with a medical supply company in the western U.S. The financing will be used for software.
$150,000 – Accounts receivable purchase facility to a trucking company in Texas. The financing will be used for working capital purposes.
$2.0 million – Accounts receivable purchase facility to a trucking company in Kentucky. The financing will be used to pay off an existing lender and for working capital purposes.
$1.1 million – New lease transaction was completed with a defense contractor in the midwestern U.S. The financing will be used for assembly line equipment.
$100,000 – Accounts receivable purchase facility to a startup freight brokerage. The financing will be used for working capital purposes.
$3.6 million – New lease transaction was completed with a lumber company in the western U.S. The financing will be used for machine tools.
$500,000 – Accounts receivable purchase facility to a trucking company in Kentucky. The financing will be used for working capital purposes.
$1.0 million – Traditional factoring facility to a distributor of oral care products in Texas. The financing will be used for working capital purposes.
$200,000 – Accounts receivable purchase facility to a startup freight brokerage in Florida. The financing will be used for working capital purposes.
$1.49 million – SBA 7(a) term loan facility to a tire and wheel company in California. The financing will be used for acquisition purposes.
$150,000 – Accounts receivable purchase facility to a trucking company in Illinois. The financing will be used for working capital purposes.
$200,000 – Accounts receivable purchase facility to a trucking company in Texas. The financing will be used for working capital purposes.