Crestmark provided more than $30.7 million in commercial financing to 88 businesses
in the first half of March 2019.

The funding comprised of $8.075 million in ABL financial solutions for 18 new clients, over $4 million in five new lease transactions from Crestmark Equipment Finance, more than $5,5 million in 66 new lease transactions from Crestmark Vendor Finance and $13.1 million in financing for three new clients from the Government Guaranteed Lending Division.

Those transactions included:

From the Equipment Finance Division:

• Four new lease transactions totaling $3.50266 million for an IT services provider in the southwestern U.S. for IT equipment
• $538,822 new lease transaction for a medical services provider in the southeastern U.S. for capital equipment

From the Asset-Based Lending Divisions:

• $1 million purchase facility to a trucking company in Florida for working capital purposes.
• $250,000 A/R purchase facility to a trucking company in Florida for working capital purposes
• $300,000 A/R purchase facility to a trucking company in Maryland to pay off an existing lender and for working capital purposes
• $350,000 A/R purchase facility to a trucking company in North Carolina to pay off an existing lender and for working capital purposes
• $100,000 A/R purchase facility to a startup trucking company in Florida for working capital purposes
• $1 million ledgered line of credit to a manufacturer of custom metal products in North Carolina to pay off an existing lender and for working capital purposes
• $150,000 A/R purchase facility to a startup trucking company in Texas for working capital purposes
• $75,000 A/R purchase facility to a trucking company in Washington for working capital purposes
• $150,000 A/R purchase facility to a trucking company in Ohio for working capital purposes
• $100,000 A/R purchase facility to a trucking company in Illinois working capital purposes
• $150,000 A/R purchase facility to a trucking company in California for working capital purposes
• $150,000 A/R purchase facility to a trucking company in Missouri to pay off an existing lender and for working capital purposes
• $150,000 A/R purchase facility to a trucking company in Pennsylvania for working capital purposes
• $450,000 A/R purchase facility to a trucking company in Pennsylvania for working capital purposes
• $400,000 A/R purchase facility to a startup trucking company in Texas for working capital purposes
• $400,000 A/R purchase facility to a trucking brokerage in Louisiana for working capital purposes
• $400,000 A/R purchase facility to a trucking company in Illinois to pay off an existing lender and for working capital purposes
• $2.5 million ledgered line of credit to a manufacturer of shipping insulation in New York for working capital purposes

From Crestmark Vendor Finance:

• $5.520502 million in 66 transactions to 65 businesses

From the Government Guaranteed Lending Division:

• $3.805 million SBA 7(a) term loan to a financial advisory firm in California to pay off an existing lender
• $4.175 million term loan to a financial advisory firm in Ohio for acquisition and working capital purposes
• $5.12 million term loan to a solar energy developer in California for the construction of a utility-scale solar farm