ELFA - Equipment Leasing and Finance Association - Equipping Business for Success

Crestmark Closes Eight Transactions Totaling More Than $10.5 Million in the Second Half of January

Posted 02/03/2016

Crestmark secured a total of $10,715,000 in financial solutions for eight new clients in the second half of January. • A $250,000 accounts receivable purchase facility was provided on Jan. 19 to a startup freight brokerage in Michigan. The financing will be used for working capital purposes. • On Jan. 19, a $400,000 accounts receivable purchase facility was provided to a startup trucking company in California. The financing will be used for working capital purposes. • A $90,000 SBA 7(a) term loan facility was provided on Jan. 21 to a beer brewery startup in Michigan. The financing will be used for working capital purposes. • On Jan. 25, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Massachusetts. The financing will be used for working capital purposes. • A $2,500,000 ledgered line of credit and inventory facility was provided on Jan. 25 to a commercial and janitorial paper wholesaler in Utah. The financing will be used for working capital purposes. • On Jan. 25, a $1,000,000 accounts receivable purchase facility was provided to a transportation provider in Alabama. The financing will be used for equipment financing and working capital purposes. • A $325,000 SBA 7(a) term loan facility was provided on Jan. 27 to an independent insurance agency in Pennsylvania. The financing will be used for acquisition purposes. • On Jan. 28, a $6,000,000 asset-based line of credit facility was provided to a manufacturer of PVC fences and decks in Florida. The financing will be used to pay off a previous lender and for working capital purposes.

Crestmark is an FDIC-insured bank that provides innovative financial solutions for businesses nationwide. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, term loans, factoring, machinery/equipment financing and equipment leasing. Crestmark has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, government contractors, apparel/footwear/furniture distribution/manufacturing, hospitality/hotels, insurance agencies, and technology hardware/software. Headquartered in Michigan, with additional offices in California, Florida, Louisiana, Tennessee, New York, and Illinois; and representatives nationwide. www.crestmark.com

 

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Crestmark Bank
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