TROY, Mich., (November 5, 2018) – Crestmark secured a total of $12,800,000 in ABL financial solutions for 14 new clients; Crestmark Equipment Finance provided $1,245,051 in one new lease transaction; Crestmark Vendor Finance provided $4,652,506 in 64 new lease transactions; the Government Guaranteed Lending Division provided $5,530,000 in financing for three new clients; and the Joint Ventures Division provided $1,389,876 in one new lease transaction in the second half of October.
- Crestmark’s asset-based lending division:
- On October 17, a $150,000 accounts receivable purchase facility was provided to a trucking company in Indiana. The financing will be used for working capital purposes.
- A $2,500,000 ledgered line of credit facility was provided to a supplier of automotive and manufacturing components in Michigan on October 17. The financing will be used to pay off an existing lender and for working capital purposes.
- On October 17, a $3,000,000 ledgered line of credit facility was provided to a staffing agency in California. The financing will be used for working capital purposes.
- A $750,000 ledgered line of credit facility was provided to a staffing agency in Colorado on October 17. The financing will be used to pay off an existing lender and for working capital purposes.
- On October 18, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Tennessee. The financing will be used for working capital purposes.
- A $2,500,000 ledgered line of credit facility was provided to an equipment manufacturer and distributor in California on October 22. The financing will be used to pay off an existing lender and for working capital purposes.
- On October 22, a $500,000 accounts receivable purchase facility was provided to a startup trucking company in Arizona. The financing will be used for working capital purposes.
- A $100,000 accounts receivable purchase facility was provided to a trucking company in North Carolina on October 23. The financing will be used for working capital purposes.
- On October 25, a $1,650,000 ledgered line of credit facility was provided to a manufacturer and supplier of power systems and components in New Jersey. The financing will be used to pay off an existing lender and for working capital purposes.
- A $150,000 accounts receivable purchase facility was priovded to a trucking company in Florida on October 26. The financing will be used for working capital purposes.
- On October 29, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Missouri. The financing will be used for working capital purposes.
- An $800,000 ledgered line of credit facility was provided to a distributor of lighting products in California on October 30. The financing will be used for working capital purposes.
- On October 31, a $250,000 accounts receivable purchase facility was provided to a trucking company in North Carolina. The financing will be used for working capital purposes.
- A $150,000 accounts receivable purchase facility was provided to a startup trucking company in Michigan on October 31. The financing will be used for working capital purposes.
- Crestmark Equipment Finance:
- On October 24, a $1,245,051 new lease transaction was completed with an oilfield services company in the southern U.S. The financing will be used for capital equipment.
- Crestmark Vendor Finance funded $4,652,506 in 64 transactions in the second half of October.
- The Government Guaranteed Lending Division:
- On October 24, a $2,023,000 term loan facility was provided to an investment advisory firm in Ohio. The financing will be used to pay off an existing lender.
- A $1,382,000 term loan facility was provided to a financial services franchise in Alabama on October 26. The financing will be used to pay off an existing lender and for acquisition purposes.
- On October 31, a $2,125,000 term loan facility was provided to an investment advisory firm in North Carolina. The financing will be used to pay off an existing lender.
- The Joint Ventures Division:
On October 30, a $1,389,876 120-month operating lease transaction was completed with a solar developer in Pennsylvania. The financing will be used to install a 701 KW DC solar system in Vermont, which has a local farm as the offtaker.