Crestmark Provides $37.4MM+ in Financing to 74 Businesses in H2/November


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Crestmark provided more than $37.4 million in financing to 74 businesses in the second half of November.

Crestmark Equipment Finance provided $17.8 million in eight new lease transactions, including:

  • $800,000 new lease transaction with a furniture supplier in the Southeastern U.S. for capital equipment
  • $1.075 million new lease transaction with a software and data services company in the Western U.S. for IT equipment
  • $568,893 new lease transaction with an energy management company in the Midwestern U.S. for IT equipment
  • $961,921 new lease transaction with an energy management company in the Midwestern U.S. for IT equipment
  • $898,039 new lease transaction with an energy management company in the Midwestern U.S. for IT equipment.
  • $2.013 million new lease transaction with an IT services provider in the Midwestern U.S. for IT equipment
  • $10.875 million 63-month operating lease transaction with a solar developer in the Western U.S. for 150 mobile solar generators
  • $586,570 new lease transaction with an oil and gas services provider in the Southern U.S. for capital equipment

Crestmark Vendor Finance provided $4.6 million in 53 new lease transactions in the second half of November.

Government Guaranteed Lending Division provided $4.68 million in financing for five new clients, including:

  • $120,000 SBA 7(a) term loan facility to a restaurant franchisee in California for working capital purposes
  • $2.714 million term loan facility to an investment advisory firm in North Carolina to pay off an existing lender
  • $790,000 term loan facility to an investment advisory firm in New Jersey to pay off an existing lender
  • $790,000 term loan facility to an investment advisory firm in California to pay off an existing lender
  • $266,000 SBA 7(a) term loan facility to a restaurant franchisee in Michigan for working capital purposes

Crestmark secured a total of $10.39 million in ABL financial solutions for eight new clients, including:

  • $500,000 A/R purchase facility to a trucking company in Ohio for working capital purposes
  • $5 million asset-based line of credit facility to a roofing manufacturer in Ohio to pay off an existing lender and for working capital purposes
  • $1.5 million Canadian ledgered line of credit facility and a $300,000 U.S. ledgered line of credit facility to a trucking company in British Columbia to pay off an existing lender and for working capital purposes
  • $150,000 A/R purchase facility to a trucking company in Texas working capital purposes
  • $250,000 A/R purchase facility to a trucking company in California for working capital purposes
  • $2.5 million ledgered line of credit facility to a wireless network service provider in California to pay off an existing lender and for working capital purposes
  • $150,000 A/R purchase facility to a startup trucking company in Michigan for working capital purposes
  • $40,000 A/R purchase facility to trucking company in Minnesota for working capital purposes

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Terry Mulreany
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terry.mulreany@monitordaily.com
Susie Angelucci
Advertising: 484.459.3016
susie.angelucci@monitordaily.com

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