Crestmark provided over $73.8 million in commercial financing to 78 businesses in the second half of April 2019.

This included securing over $25.75 million in ABL financial solutions for 10 new clients; more than $16.76 million in eight new lease transactions from Crestmark Equipment Finance; more than $4.34 million in 60 new lease transactions from Crestmark Vendor Finance; over $19.13 million for two new clients from the Joint Ventures Division; and $7.795 million for two new clients from the Government Guaranteed Lending Division.

Those transactions broke down as follows:

From Crestmark Equipment Finance:

• $603,549 new lease transaction for a cabinet manufacturer in the northeastern U.S. for capital equipment
• $3,731,571 new lease transaction with a cable provider in the western U.S. for IT equipment
• $5,033,569 new lease transaction with a coal producer in the southern U.S. for capital equipment
• Two new lease transactions totaling $1,531,483 for an energy management company in the midwestern U.S. for IT equipment
• Two new lease transactions totaling $5,328,914 for an excavation contractor in the southwestern U.S. for capital equipment
• $535,425 new lease transaction with a producer and distributor of organic food products in the northwestern U.S. for capital equipment

From Crestmark’s Asset-Based Lending Divisions:

• $150,000 A/R purchase facility to a trucking company in Louisiana for working capital purposes
• $150,000 A/R purchase facility to a trucking company in Ohio for working capital purposes
• $2 million asset-based line of credit to a manufacturer of containment equipment in North Carolina to pay off an existing lender and for working capital purposes
• $3 million term loan and a $2.5 million asset-based line of credit to an oilfield services provider in Texas to pay off an existing lender and for working capital purposes
• $4,908,713 term loan and a $3 million ledgered line of credit to an oilfield services company in Texas for working capital purposes
• $3.5 million ledgered line of credit to a metal fabrication company in Alabama for working capital purposes
• $4.75 million term loan to a manufacturer of solar cell technology in California for working capital purposes
• $1.25 million ledgered line of credit to a manufacturer of sheet metal components in Pennsylvania to pay off an existing lender and for working capital purposes
• $400,000 A/R purchase facility to a trucking company in Georgia for working capital purposes
• $150,000 A/R purchase facility to a startup trucking company in New York for working capital purposes

From Crestmark Vendor Finance:

• $4,347,415 in 60 transactions to 58 businesses

From the Joint Ventures Division:

• $11,434,663 180-month operating lease transaction with a solar developer in Connecticut to install a 4,804 KW DC solar farm in Massachusetts, which has a local utility as the offtaker
• $7,702,800 180-month operating lease transaction with a solar developer in Connecticut to install a 2,940 KW DC solar farm in Massachusetts, which has a local utility as the offtaker

From the Government Guaranteed Lending Division:

• $2.795 million SBA 7(a) term loan to a financial advisory firm in Washingtonfor acquisition purposes
• $5 million SBA 7(a) term loan to a financial advisory firm in California to pay off an existing lender and for working capital purposes