Crestmark Provides $33MM to 71 Businesses in H1/September



Crestmark provided more than $33 million in commercial financing to 71 businesses in the first half of September 2019.

This included a total of $12.65 million in ABL financial solutions for 11 new clients, $10,041,309 in four new lease transactions from Crestmark Equipment Finance, $4,761,049 in 53 new lease transactions from Crestmark Vendor Finance and $5.73 million in financing for four new clients from the Government Guaranteed Lending Division.

The deals broke down as follows:

From Crestmark Equipment Finance:

  • $509,861 new lease transaction for a vegetation management company in the southwestern U.S. for capital equipment
  • $8.16 million new lease transaction for a mining company in western Canada for capital equipment
  • Two transactions totaling $1,371,448 for a manufacturer and distributor of automotive components in the midwestern U.S. for capital equipment

From Crestmark Vendor Finance:

  • $4,761,049 in 53 new lease transactions. Some highlights include:
  • An equipment finance transaction for a wholesale meat producer in the northeastern U.S. for new computer equipment
  • An equipment finance transaction for a computer services company in the western U.S. for new computer equipment
  • An equipment finance transaction for a cinema in the southern U.S. for theater seating
  • An equipment finance transaction for a farm in the western U.S. for a generator and walk-in cooler

 From Crestmark’s Asset-Based Lending Divisions:

  • $150,000 A/R purchase facility to a trucking company in Colorado for working capital purposes
  • $2 million ledgered line of credit for an automotive company in Michigan to pay off an existing lender and for working capital purposes
  • $2 million asset-based line of credit for a producer and wholesaler of food products in Kentucky to pay off an existing lender and for working capital purposes
  • $2 million ledgered line of credit for a bulk material logistics company in Texas for working capital purposes
  • $2.5 million A/R purchase facility for a trucking company in California to pay off an existing lender and for working capital purposes
  • $300,000 A/R purchase facility for a startup trucking company in Texas for working capital purposes
  • $500,000 A/R purchase facility for a trucking company in California for working capital purposes
  • $1.5 million ledgered line of credit for to a utility services company in Arkansas for acquisition and for working capital purposes
  • $100,000 A/R purchase facility for a trucking company in Arkansas for working capital purposes
  • $1.4 million A/R purchase facility for a trucking company in Washington to pay off an existing lender and for working capital purposes
  • $200,000 A/R purchase facility for a trucking company in Washington to pay off an existing lender and for working capital purposes

From the Government Guaranteed Lending Division:

  • $4 million USDA Business & Industry loan for a solar developer in Texas to pay off an existing lender
  • $460,000 SBA 7(a) term loan for a contract embroidery company in North Carolina for acquisition purposes.
  • $175,000 SBA 7(a) term loan for a benefits brokerage firm in California for working capital purposes
  • A $1.095 million term loan for a financial advisory firm in Michigan for acquisition purposes

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Terry Mulreany
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