Crestmark Provides More than $35MM in Financing in H1/September

SEP 25, 2018 - 6:40 am

Crestmark provided more than $35 million in financing across four different divisions in the first half of September 2018.

Crestmark secured a total of $14.4 million in ABL financial solutions with 17 transactions for 15 new clients. Crestmark Equipment Finance provided $2.968 million in four new lease transactions. Crestmark Vendor Finance provided $6.8 million in 73 new lease transactions and the Government Guaranteed Lending division provided $10.866 million in financing for two new clients in the first half of September.

In the Equipment Finance division:

$1.25 million new lease transaction for a food manufacturer in the southwestern U.S. for capital equipment
$529,913 new lease transaction for a manufacturing company in the western U.S. for capital equipment
$613,837 new lease transaction for a healthcare provider in the southwestern U.S. for capital equipment
$575,000 new lease transaction for a healthcare provider in the mid-western U.S. for capital equipment

In the Vendor Finance division, $6.8 million in 73 transactions

In the Government Guaranteed Lending division:

$7.5 million solar construction term loan to a solar energy provider in Minnesota, which will be used to pay off an existing lender. Once the construction of the 6.5 MW DC utility-scale solar farm is completed, the term loan will be refinanced by a $9.25 million USDA Business & Industry permanent debt loan for a 25-year term and with an energy company as the off-taker
$3.366 million term loan to an investment advisory firm in Massachusetts to pay off an existing lender

In the ABL division:

100,000 A/R purchase facility to a trucking company in South Carolina for working capital purposes
$2.25 million A/R purchase facility to a trucking brokerage in Tennessee to pay off an existing lender and for working capital purposes
$350,000 A/R purchase facility to a trucking company in New Mexico to pay off an existing lender and for working capital purposes
$300,000 Canadian ledgered line of credit and a $200,000 U.S. ledgered line of credit to a beverage distributor in Ontario for working capital purposes
$200,000 A/R purchase facility to a trucking company in Arkansas for working capital purposes
$300,000 A/R purchase facility to a trucking company in Nebraska for working capital purposes
$500,000 A/R purchase facility to a groundwater technology company in California for working capital purposes
$1.2 million term loan and a $1.5 million ledgered line of credit to a manufacturer of sanitary products in Virginia for working capital purposes
$1.5 million asset-based line of credit to a distributor of sanitary products in Virginia for working capital purposes
$600,000 A/R purchase facility to a trucking company in Iowa for working capital purposes
$1.5 million Asset-based line of credit to a wholesale distributor of electrical products in Ohio for working capital purposes
$3 million ledgered line of credit to a trucking company in Minnesota to pay off an existing lender and for working capital purposes
$500,000 ledgered line of credit to a trucking brokerage in Minnesota for working capital purposes
$150,000 A/R purchase facility to a trucking company in Montana for working capital purposes
$250,000 A/R purchase facility to a startup trucking brokerage in Virginia for working capital purposes