Equipment Leasing and Finance Association - Equiping Business for Success

Crestmark Provides More Than $37.4 Million in Commercial Financing to 74 Businesses in the Second Half of November

Posted 12/06/2018
TROY, Mich., (December 6, 2018) – Crestmark secured a total of $10,390,000 in ABL financial solutions for eight new clients; Crestmark Equipment Finance provided $17,779,303 in eight new lease transactions; Crestmark Vendor Finance provided $4,643,629 in 53 new lease transactions; and the Government Guaranteed Lending Division provided $4,680,000 in financing for five new clients in the second half of November.
  • Crestmark’s asset-based lending division:
    • On November 16, a $500,000 accounts receivable purchase facility was provided to a trucking company in Ohio. The financing will be used for working capital purposes.
    • A $5,000,000 asset-based line of credit facility was provided to a roofing manufacturer in Ohio on November 16. The financing will be used to pay off an existing lender and for working capital purposes.
    • On November 16, a $1,500,000 Canadian ledgered line of credit facility and a $300,000 U.S. ledgered line of credit facility were provided to a trucking company in British Columbia, Canada. The financing will be used to pay off an existing lender and for working capital purposes.
    • A $150,000 accounts receivable purchase facility was provided to a trucking company in Texas on November 19. The financing will be used for working capital purposes.
    • On November 26, a $250,000 accounts receivable purchase facility was provided to a trucking company in California. The financing will be used for working capital purposes.
    • A $2,500,000 ledgered line of credit facility was provided to a wireless network service provider in California on November 27. The financing will be used to pay off an existing lender and for working capital purposes.
    • On November 28, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Michigan. The financing will be used for working capital purposes.
    • A $40,000 accounts receivable purchase facility was provided to trucking company in Minnesota on November 29. The financing will be used for working capital purposes.
  • Crestmark Equipment Finance:
    • On November 19, an $800,000 new lease transaction was completed with a furniture supplier in the southeastern U.S. The financing will be used for capital equipment.
    • A $1,075,090 new lease transaction was completed with a software and data services company in the western U.S. on November 19. The financing will be used for IT equipment.
    • On November 19, a $568,893 new lease transaction was completed with an energy management company in the midwestern U.S. The financing will be used for IT equipment.
    • A $961,921 new lease transaction was completed with an energy management company in the midwestern U.S. on November 19. The financing will be used for IT equipment.
    • On November 19, an $898,039 new lease transaction was completed with an energy management company in the midwestern U.S. The financing will be used for IT equipment.
    • A $2,013,790 new lease transaction was completed with an IT services provider in the midwestern U.S. on November 28. The financing will be used for IT equipment.
    • On November 29, a $10,875,000 63-month operating lease transaction was completed with a solar developer in the western U.S. The financing will be used for 150 mobile solar generators.
    • A $586,570 new lease transaction was completed with an oil and gas services provider in the southern U.S. on November 30. The financing will be used for capital equipment.
  • Crestmark Vendor Finance funded $4,643,629 in 53 transactions in the second half of November.
  • The Government Guaranteed Lending Division:
    • On November 16, a $120,000 SBA 7(a) term loan facility was provided to a restaurant franchisee in California. The financing will be used for working capital purposes.
    • A $2,714,000 term loan facility was provided to an investment advisory firm in North Carolina on November 20. The financing will be used to pay off an existing lender.
    • On November 28, a $790,000 term loan facility was provided to an investment advisory firm in New Jersey. The financing will be used to pay off an existing lender.
    • On November 30, a $266,000 SBA 7(a) term loan facility was provided to a restaurant franchisee in Michigan. The financing will be used for working capital purposes.

 

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