TROY, Mich., (June 2, 2017) – Crestmark secured a total of $24,687,000 in financial solutions for 16 new clients in the second half of May.

·        A $200,000 accounts receivable purchase facility was provided on May 16 to a trucking company in North Carolina. The financing will be used for working capital purposes.

·        On May 17, a $3,000,000 accounts receivable purchase facility was provided to a trucking company in Ohio. The financing will be used to pay off an existing lender and for working capital purposes.

·        A $2,400,000 new lease transaction was completed on May 19 with a commercial aircraft parts manufacturer in the eastern U.S. The financing will be used for machining equipment.

·        On May 19, $750,000 accounts receivable purchase facility was provided to a trucking company in Florida. The financing will be used to pay off an existing lender and for working capital purposes.

·        A $1,500,000 accounts receivable purchase facility was provided on May 24 to a trucking company in Wyoming. The financing will be used to pay off an existing lender and for working capital purposes.

·        On May 24, a $6,000,000 asset-based line of credit facility was provided to an oil and gas services provider in Texas. The financing will be used to pay off an existing lender and for working capital purposes.

·        A $500,000 ledgered line of credit facility was provided on May 25 to a wholesaler and distributor of promotional items in Texas. The financing will be used for working capital purposes.

·        On May 25, a $500,000 accounts receivable purchase facility was provided to a trucking company in Missouri. The financing will be used for working capital purposes.

·        A $1,000,000 ledgered line of credit facility was provided on May 26 to an oil and gas services provider in Texas. The financing will be used to pay off an existing lender and for working capital purposes.

·        On May 26, a $500,000 traditional factoring facility was provided to an importer and distributor of fashion accessories in New York. The financing will be used for working capital purposes.

·        A $2,000,000 ledgered line of credit facility was provided on May 26 to a trucking company in California. The financing will be used to pay off an existing lender and for working capital purposes.

·        On May 26, a $3,517,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Texas. The financing will be used for acquisition purposes.

·        A $500,000 accounts receivable purchase facility was provided on May 26 to a trucking company in Illinois. The financing will be used for working capital purposes.

·        On May 31, a $1,000,000 ledgered line of credit facility was provided to a manufacturer of cooking equipment in California. The financing will be used to pay off an existing lender and for working capital purposes.

·        A $100,000 accounts receivable purchase facility was provided on May 31 to a trucking company in Texas. The financing will be used to pay off an existing lender and for working capital purposes.

·        On May 31, a $1,220,000 insurance agency term loan facility was provided to an independent insurance agency in Georgia. The financing will be used for acquisition 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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