Equipment Leasing and Finance Association - Equiping Business for Success

Crestmark Provides More Than $25.6 Million in Commercial Financing to 94 Businesses in the First Half of January

Posted 01/24/2019

TROY, Mich., (Jan. 24, 2019) – Crestmark secured a total of $11,199,163 in ABL financial solutions for 10 new clients; Crestmark Equipment Finance provided $3,599,632 in three new lease transactions; Crestmark Vendor Finance provided $5,268,716 in 80 new lease transactions; and the Government Guaranteed Lending Division provided $5,600,000 in financing for one new client in the first half of January.

  • Crestmark’s asset-based lending division:
    • On Jan. 4, a $750,000 accounts receivable purchase facility was provided to a trucking company in California. The financing will be used for working capital purposes.
    • A $1,500,000 asset-based line of credit facility was provided to a manufacturer of fasteners in Michigan on Jan. 4. The financing will be used to pay off an existing lender and for working capital purposes.
    • On Jan. 4, a $200,000 accounts receivable purchase facility was provided to a trucking company in Illinois. The financing will be used for working capital purposes.
    • A $750,000 ledgered line of credit facility was provided to a trucking company in South Carolina on Jan. 4. The financing will be used for working capital purposes.
    • On Jan. 4, a $500,000 accounts receivable purchase facility was provided to a staffing company in Virginia. The financing will be used for working capital purposes.
    • A $300,000 accounts receivable purchase facility was provided to a manufacturer of furniture and fixtures in Ontario, Canada on Jan. 9. The financing will be used for working capital purposes.
    • On Jan. 11, a $1,000,000 ledgered line of credit facility was provided to an oilfield services provider in Texas. The financing will be used for working capital purposes.
    • A $75,000 Canadian accounts receivable purchase facility and a $75,000 U.S. accounts receivable purchase facility were provided to a trucking company in Ontario, Canada on Jan. 11. The financing will be used for working capital purposes.
    • On Jan. 14, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Mississippi. The financing will be used for working capital purposes.
    • A $4,800,000 ledgered line of credit facility and a $1,099,163 term loan facility were provided to a construction management company in Pennsylvania on Jan. 14. The financing will be used to pay off an existing lender and for working capital purposes.
  • Crestmark Equipment Finance:
    • On Jan. 4, a $751,612 new lease transaction was completed with a medical device company in the southern U.S. The financing will be used for capital equipment.
    • A $1,715,250 new lease transaction was completed with an oil and gas services company in the southern U.S. on Jan. 4. The financing will be used for capital equipment.
    • On Jan. 11, a $1,132,770 new lease transaction was completed with a medical diagnostics company in the eastern U.S. The financing will be used for software.
  • Crestmark Vendor Finance funded $5,268,716 in 80 transactions in the first half of January.
  • The Government Guaranteed Lending Division:
    • On Jan. 11, a $5,000,000 SBA 7(a) term loan facility and a $600,000 term loan facility were provided to an independent insurance agency in Texas. The financing will be used for acquisition and for working capital purposes.

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