Crestmark Provides More Than $30.1MM in Financing in H1/October

OCT 19, 2018 - 7:15 am

In the first half of October, Crestmark secured a total of $13.585 million in ABL financial solutions for eight new clients. Crestmark Equipment Finance provided $13.412118 million in seven new lease transactions, and Crestmark Vendor Finance provided $3.151862 million in 51 new lease transactions in the second half of October.

Those transactions included:

In Crestmark Equipment Finance:

$1.543353 million new lease transaction for an oil and gas services company in the western U.S. for capital equipment
$1.393640 million new lease transaction for an equipment company in the southwestern U.S. for capital equipment
$2.465 million new lease transaction for a telecommunications company in the northeastern U.S. for capital equipment
$1.311192 million new lease transaction for a telecommunications company in the northeastern U.S. for IT equipment
$5 million new lease transaction for a healthcare services provider in the northwestern U.S. for medical equipment
$1.028493 million new lease transaction for a healthcare services provider in the western U.S. for medical equipment
$670,440 new lease transaction for a packaging company in the southern U.S. for capital equipment

In Crestmark’s ABL division:

$2 million A/R purchase facility to a trucking company in Arizona for working capital purposes
$1 million ledgered line of credit to a trucking company in California to pay off an existing lender and for working capital purposes
$400,000 A/R purchase facility to a startup trucking company in California for working capital purposes
$4 million asset-based line of credit to a designer and distributor of women’s shoes in Missouri to pay off an existing lender and for working capital purposes
$4 million A/R purchase facility to an oil and gas services trucking company in Texasto pay off an existing lender and for working capital purposes
$150,000 A/R purchase facility to a trucking company in Alabama for working capital purposes
$35,000 A/R purchase facility to a trucking company in Texas for working capital purposes
$2 million asset-based line of credit to a metal processing company in Michigan to pay off an existing lender and for working capital purposes