Crestmark Provides More Than $23.6MM in Commercial Financing in H2/August



Crestmark Equipment Finance provided $6,484,462 in four new transactions; Crestmark Vendor Finance provided $4,413,415 in 43 new transactions; the Government Guaranteed Lending group provided $9,250,000 in financing for four new clients, and Crestmark secured a total of $3.55 million in ABL/factoring financial solutions for eight new clients in the second half of August.

Equipment Finance transactions included, but were not limited to:

  • A renewable energy producer in the western U.S. for alternative energy equipment

Vendor Finance equipment finance transactions included, but were not limited to:

  • A trucking company in the northwestern U.S. for operational equipment
  • A cleaning company in the southern U.S. for operational equipment
  • A transportation company in the southern U.S. for transportation equipment
  • A trucking company in the midwestern U.S. for transportation equipment

Government Guaranteed Lending financial solutions, to be used for various purposes such as acquisition, working capital, and more included:

  • $7,200,000 term loan to a solar company in California
  • $895,000 SBA 7(a) loan to a packaging manufacturer in Texas
  • $800,000 SBA 7(a) loan to an insurance agency in Georgia
  • $355,000 SBA 7(a) loan to a property management company in Alabama

Asset-Based Lending and Factoring financial solutions to be used for various purposes such as working capital and to pay off an existing lender included:

Accounts Receivable facilities:

  • $1,000,000 to a refrigerated carrier in California
  • $500,000 to a transportation company in Ohio
  • $500,000 to a refrigerated trucking company in California
  • $150,000 to a freight-all-kinds trucking company in Maryland
  • $150,000 to a trucking company in South Carolina
  • $150,000 to a refrigerated trucking company in Florida
  • $100,000 to a freight broker in Texas

Ledgered Line of Credit facilities:

  • $1,000,000 to a less than load (LTL) freight company in Wisconsin.

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Terry Mulreany
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