Crestmark Provides $45MM in Financing to 65 Clients

OCT 4, 2019 - 6:40 am

Crestmark closed more than $45 million in commercial financing transactions for 65 businesses in the second half of September 2019.

Those transactions included a total of $5,916,667 in ABL financial solutions for five new clients; $20,017,859 in 15 new lease transactions from Crestmark Equipment Finance; $5,101,432 in 46 new lease transactions from Crestmark Vendor Finance; $13,294,364 in financing for three clients from the Joint Ventures Division; and $740,000 in financing for one new client from the Government Guaranteed Lending Division.

The deals broke down as follows:

From Crestmark Equipment Finance:

$1,344,658 new lease transaction for a metal forming company in the midwestern U.S. for capital equipment
$9.304 million new lease transaction for a fuel cell company in the northeastern U.S. for capital equipment
$969,861 new lease transaction for a medical services provider in the northeastern U.S. for capital equipment
$504,662 new lease transaction for a medical services provider in the southern U.S. for capital equipment
$575,730 new lease transaction for an oilfield services company in the southern U.S. for capital equipment
Six new lease transactions totaling $3,490,914 for an energy solutions provider in the southeastern U.S. for capital equipment
$541,800 new lease transaction for an intermodal infrastructure services provider in the midwestern U.S. for capital equipment
$850,000 new lease transaction for a rental services company in the southeastern U.S. for capital equipment
$772,292 new lease transaction for a fitness club in the northeastern U.S. for capital equipment
$1,663,942 new lease transaction for a cable provider in the western U.S. for IT equipment

From Crestmark Vendor Finance:

$5,101,432 in 46 new lease transactions

From Crestmark’s Asset-Based Lending Divisions:

$3,166,667 term loan for a printed electronics company in California to pay off an existing lender and for working capital purposes
$350,000 ledgered line of credit for a contract manufacturing company in Indiana for working capital purposes
$750,000 A/R purchase facility for a fueling services provider in Louisiana to pay off an existing lender and for working capital purposes
$400,000 A/R purchase facility for a trucking company in Colorado for working capital purposes
$1.25 million ledgered line of credit for a manufacturer of leather goods in Ohio to pay off an existing lender and for working capital purposes

Form the Joint Ventures Division:

$10 million ledgered line of credit for to a manufacturing company in Missouri for working capital purposes
$981,139 solar construction term loan for a manufacturing company in Rhode Island to install a 490 KW DC solar farm, which has a local utility as the offtaker. Once the construction of the solar farm is completed, the term loan will be refinanced with a 120-month operating lease.
$2,313,225 operating lease for a solar developer in Vermont for a 745 KW DC solar farm, which has a local school district as the offtaker

From the Government Guaranteed Lending Division: