Crestmark secured a total of $25.6 million to 83 clients in the second half of October.
Crestmark Equipment Finance provided $1.245 million in one new lease transaction. Crestmark Vendor Finance provided $4.65 million in 64 new lease transactions. The Government Guaranteed Lending Division provided $5.53 million in financing for three new clients. The Joint Ventures Division provided $1.389 million in one new lease transaction. Crestmark secured a total of $12.8 million in ABL financial solutions for 14 new clients. Details of the transactions follow:
Crestmark Equipment Finance:
- $1.245 million new lease transaction with an oilfield services company in the Southern U.S. for capital equipment
Crestmark Vendor Finance:
- $4,652,506 in 64 transactions in the second half of October
Government Guaranteed Lending Division:
- $2.023 million term loan facility to an investment advisory firm in Ohio to pay off an existing lender
- $1.382 million term loan facility to a financial services franchise in Alabama to pay off an existing lender and for acquisition purposes
- $2.125 million term loan facility to an investment advisory firm in North Carolina to pay off an existing lender
Joint Ventures Division:
- $1.389 million 120-month operating lease transaction with a solar developer in Pennsylvania to install a 701 KW DC solar system in Vermont, which has a local farm as the offtaker.
Asset-based lending division:
- $150,000 A/R purchase facility to a trucking company in Indiana for working capital purposes
- $2.5 million ledgered line of credit facility to a supplier of automotive and manufacturing components in Michigan to pay off an existing lender and for working capital purposes
- $3 million ledgered line of credit facility to a staffing agency in California for working capital purposes
- $750,000 ledgered line of credit facility to a staffing agency in Colorado to pay off an existing lender and for working capital purposes
- $150,000 A/R purchase facility to a startup trucking company in Tennessee for working capital purposes
- $2.5 million ledgered line of credit facility to an equipment manufacturer and distributor in California to pay off an existing lender and for working capital purposes
- $500,000 A/R purchase facility to a startup trucking company in Arizona for working capital purposes
- $100,000 A/R purchase facility to a trucking company in North Carolina for working capital purposes
- $1.65 million ledgered line of credit facility to a manufacturer and supplier of power systems and components in New Jersey to pay off an existing lender and for working capital purposes
- $150,000 A/R purchase facility to a trucking company in Florida for working capital purposes
- $150,000 A/R purchase facility to a startup trucking company in Missouri for working capital purposes
- $800,000 ledgered line of credit facility to a distributor of lighting products in California for working capital purposes
- $250,000 A/R purchase facility to a trucking company in North Carolina for working capital purposes
- $150,000 A/R purchase facility to a startup trucking company in Michigan for working capital purposes
