Crestmark Closes 22 Deals Totaling $26.6MM+ in H2/Apr

MAY 4, 2018 - 7:00 am

Crestmark secured a total of $26.627 million in financial solutions for 22 new clients in the second half of April. Outlined below are brief descriptions of the transactions:

$100,000 – Accounts receivable purchase facility to a trucking company in Georgia. The financing will be used for working capital purposes.
$2.0 million – USDA Rural Energy for America Program (REAP) loan facility to a solar developer in Texas. The financing converts a five-year power purchase agreement (PPA) into permanent debt for a 20-year term and will be used to install a 7 MW DC utility solar farm, which has a utility company as the offtaker.
$300,000 – Ledgered line of credit facility to a distributor of audio visual equipment in Michigan. The financing will be used for working capital purposes.
$1.0 million – Accounts receivable purchase facility to a staffing company for the oil and gas industry in Pennsylvania. The financing will be used for working capital purposes.
$300,000 – Term loan facility to a machine manufacturer in Michigan. The financing will be used for working capital purposes.
$250,000 – Accounts receivable purchase facility to a trucking company in Illinois. The financing will be used for working capital purposes.
$300,000 – Accounts receivable purchase facility to a distributor of motors and electromechanical components in Florida. The financing will be used to pay off an existing lender and for working capital purposes.
$300,000 – Accounts receivable purchase facility to a trucking company in Kentucky. The financing will be used for working capital purposes.
$682,000 – New lease transaction was completed with a transportation company in the Midwestern U.S. The financing will be used for capital equipment.
$1.651 million – New lease transaction was completed with a food manufacturer in the Northeastern U.S. The financing will be used for software.
$100,000 – Accounts receivable purchase facility was provided to a trucking company in Arkansas. The financing will be used to for working capital purposes.
$150,000 – Accounts receivable purchase facility was provided to a startup trucking company in Illinois. The financing will be used for working capital purposes.
$500,000 – Accounts receivable purchase facility was provided to a producer and distributor of hardwood flooring in Florida. The financing will be used for working capital purposes.
$600,000 – Accounts receivable purchase facility was provided to a trucking company in California. The financing will be used for working capital purposes.
$500,000 – Ledgered line of credit facility was provided to a manufacturer of planters and waste receptacles in Florida. The financing will be used for working capital purposes.
$7.5 million – Asset-based line of credit facility was provided to an IT staffing company in Kansas. The financing will be used to pay off an existing lender and for working capital purposes.
$500,000 – Accounts receivable purchase facility was provided to a trucking company in South Carolina. The financing will be used for working capital purposes.
$600,000 – Accounts receivable purchase facility was provided to a freight brokerage in Florida. The financing will be used for working capital purposes.
$3.750 million – USDA REAP loan facility was provided to a solar developer in South Carolina. The financing converts a five-year PPA into permanent debt for a 25-year term and will be used to install a 14.8 MW DC utility solar farm, which has a utility company as the offtaker.
$100,000 – Accounts receivable purchase facility was provided to a trucking company in Wisconsin. The financing will be used to pay off an existing lender and for working capital purposes.
$2.0 million – Ledgered line of credit facility was provided to a trucking company in Georgia. The financing will be used to pay off an existing lender and for working capital purposes.
$3.444 million – Insurance agency term loan facility was provided to an independent insurance agency in Florida. The financing will be used to pay off an existing lender and for acquisition purposes.