Crestmark provided over $41.7 million in commercial financing solutions to 92 businesses in the first half of May 2019. Those transactions included a total of $16.55 million in ABL financial solutions for 18 new clients; $17,524,792 in six new lease transactions from Crestmark Equipment Finance; $3,946,869 in 63 new lease transactions from Crestmark Vendor Finance; $2,263,023 for one new client from the Joint Ventures Division; and $1,5 million in financing for four new clients from the Government Guaranteed Lending Division.

The transactions were as follows:

In Crestmark Equipment Finance:

• $606,396 new lease transaction for a wholesaler and distributor of bulk oil in the midwestern U.S. for capital equipment
• $4,911,684 new lease transaction for an IT company in the eastern U.S. for software
• $8,115,780 new lease transaction for a networking solutions provider in the western U.S for capital equipment
• $823,664 new lease transaction for an IT services provider in the southwestern U.S. for IT equipment
• $1,790,655 new lease transaction for an owner and operator of private clubs in the southern U.S. for capital equipment
• $1,276,613 new lease transaction for a manufacturer and distributor of canned food products in the southeastern U.S. for capital equipment

In Crestmark’s Asset-Based Lending Divisions:

• $150,000 A/R purchase facility to a startup trucking company in Florida for working capital purposes
• $150,000 A/R purchase facility to a startup trucking company in California for working capital purposes
• $2.25 million A/R purchase facility to a trucking company in California for working capital purposes
• $4.5 million ledgered line of credit to an oil and gas services 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 Tennesseefor working capital purposes
• $150,000 A/R purchase facility to a trucking company in Utah for working capital purposes
• $150,000 A/R purchase facility to a trucking company in Georgia for working capital purposes
• $3 million ledgered line of credit to a staffing company in Florida to pay off an existing lender and for working capital purposes
• $150,000 A/R purchase facility to a startup trucking company in Missouri for working capital purposes
• $100,000 A/R purchase facility to a trucking company in Texas for working capital purposes
• $250,000 A/R purchase facility to a water waste disposal company in Minnesota for working capital purposes
• $300,000 A/R purchase facility to a startup trucking company in Illinois for working capital purposes
• $2.75 million A/R purchase facility to an oil and gas services provider in Ohio for working capital purposes
• $100,000 A/R purchase facility to a trucking company in Texas for working capital purposes
• $150,000 A/R purchase facility to a startup trucking company in New York for working capital purposes
• $2 million ledgered line of credit to a technology and product engineering solutions company in Illinois to pay off an existing lender and for working capital purposes
• $150,000 A/R purchase facility to a startup freight brokerage in Ohio for working capital purposes
• $100,000 A/R purchase facility to a trucking company in Oklahoma for working capital purposes

In Crestmark Vendor Finance:

• $3,946,869 in 63 new lease transactions

In the Joint Ventures Division:

• $2,263,023 120-month operating lease transaction for a solar developer in Vermont to install a 756 KW DC solar farm, which has a medical center as the offtaker

In the Government Guaranteed Lending Division:

• $350,000 SBA express line of credit to a commercial and home restoration services franchisee in South Carolina for acquisition purposes
• $495,000 SBA 7(a) term loan to a recreational vehicle rental company in California for acquisition and for working capital purposes
• $255,000 SBA 7(a) term loan to an educational consultancy in North Carolina to pay off an existing lender
• $400,000 term loan to an independent insurance agency in Colorado for acquisition and for working capital purposes