Crestmark Equipment Finance Provides More Than $2MM in Transactions in H1/August

AUG 30, 2021 - 6:20 am

Crestmark Equipment Finance provided $2,588,364 in four new transactions and Crestmark Vendor Finance provided $3,198,849 in 31 new transactions in the first half of August. In addition, Crestmark secured a total of $46.9 million in asset-based lending/factoring financial solutions for 16 new clients, Crestmark’s government guaranteed lending group provided $35.816 million in financing for three new clients and Crestmark’s joint ventures group provided $14.05 million in one new transaction.

Crestmark Vendor Finance Highlights

An equipment finance transaction for a drilling company in the western U.S. for operational equipment
An equipment finance transaction for a transportation company in the southern U.S. for transport equipment
An equipment finance transaction for a transportation company in the western U.S. for transportation equipment
An equipment finance transaction for a trucking company in the southern U.S. for operational equipment

Asset-Based Lending and Factoring

Crestmark provided the following accounts receivable facilities:

$500,000 to a freight-all-kinds trucking company in Illinois
$500,000 to a transportation company in North Carolina
$500,000 to a freight-all-kinds trucking company in California
$350,000 to a trucking company in South Carolina
$250,000 to a general freight trucking company in Arkansas
$150,000 to a flatbed trucking company in Ohio
$150,000 to a trucking company in Texas
$150,000 to a regional trucking company in Georgia
$150,000 to a freight-all-kinds trucking company in Florida
$150,000 to a flatbed trucking company in Wyoming
$150,000 to a trucking company in Arkansas
$150,000 to a dry van transportation company in Michigan

Crestmark also provided the following:

A $5 million asset-based loan facility to a communications and networking equipment distributor in Missouri
A $750,000 ledgered line of credit facility to a staffing solutions company in California
A $20 million participation in a $58 million term loan to a skilled nursing healthcare facilities group in Florida
An $18 million participation in an $85 million term loan to a healthcare skilled nursing facilities group in Georgia

Crestmark’s Government Guaranteed Lending Group

Provided a $26 million term loan to a solar energy solutions company in North Carolina
Provided a $9.7 million term loan to a solar energy company in California
Provided a $116,000 SBA 7(a) loan to an insurance agency in Connecticut

Crestmark’s Joint Ventures Group