Crestmark provided more than $51 million in commercial financing to 94 businesses in the second half of June 2019.

Those transactions included $4.36 million in ABL financial solutions for five new clients; $21,416,745 in seven new lease transactions from Crestmark Equipment Finance; $4,976,084 in 78 new lease transactions from Crestmark Vendor Finance; $9,821,799 for one new client from the Joint Ventures Division; and $10.475 million in financing for five new clients from the Government Guaranteed Lending Division.

The financings broke down as follows:

From Crestmark Equipment Finance:

• $944,442 new lease for a communications distributor in the northeastern U.S. for IT equipment
• $2,137,051 new lease for a mortgage lender in the northeastern U.S. for capital equipment
• Three new lease totaling $4,899,838 for a provider of food waste recycling services in the midwestern U.S. for capital equipment
• $4,169,414 new lease for a die cast company in the southeastern U.S. for capital equipment
• $9.266 million new lease for a fuel cell company in the northeastern U.S. for capital equipment

From Crestmark Vendor Finance:

• $4,976,084 in 78 new lease transactions

From the Joint Ventures Division:

• $9,821,799 120-month operating lease for a real estate investment company in Michigan to install a solar farm

From Crestmark’s Asset-Based Lending Divisions:

• $3 million asset-based line of credit facility to a food manufacturer in California for working capital purposes
• $400,000 A/R purchase facility to a trucking company in California for working capital purposes
• $150,000 A/R purchase facility to a startup trucking company in Georgia for working capital purposes
• $660,000 term loan to a Tier 1 automotive supplier in Michigan to pay off an existing lender
• $150,000 A/R purchase facility was provided to a startup trucking company in North Carolina for working capital purposes

From the Government Guaranteed Lending Division:

• $3.55 million USDA Business & Industry loan to solar energy developer in Texas to provide permanent debt
• $3.36 million term loan to a financial advisory firm in Texas to pay off an existing lender and for working capital purposes
• $1 million SBA 7(a) term loan to an independent insurance agency in California for acquisition and for working capital purposes
• $190,000 SBA 7(a) term loan to a beverage distributor in Illinois to pay off an existing lender, for acquisition, and for working capital purposes
• $2.375 million term loan to a financial advisory firm in Pennsylvania for acquisition purposes