Equipment Leasing and Finance Association - Equiping Business for Success

Crestmark Provides More Than $41.7 Million in Commercial Financing to 92 Businesses in the First Half of May

Posted 05/22/2019

Crestmark Provides More Than $41.7 Million in Commercial Financing to 92 Businesses in the First Half of May

TROY, Mich., (May 22, 2019) – Crestmark secured a total of $16,550,000 in ABL financial solutions for 18 new clients; Crestmark Equipment Finance provided $17,524,792 in six new lease transactions; Crestmark Vendor Finance provided $3,946,869 in 63 new lease transactions; the Joint Ventures Division provided $2,263,023 for one new client; and the Government Guaranteed Lending Division provided $1,500,000 in financing for four new clients in the first half of May.

  • Crestmark’s Asset-Based Lending Divisions:
    • On May 1, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Florida. The financing will be used for working capital purposes.
    • A $150,000 accounts receivable purchase facility was provided to a startup trucking company in California on May 1. The financing will be used for working capital purposes.
    • On May 1, a $2,250,000 accounts receivable purchase facility was provided to a trucking company in California. The financing will be used to pay off an existing lender and for working capital purposes.
    • A $4,500,000 ledgered line of credit facility was provided to an oil and gas services provider in California on May 3. The financing will be used to pay off an existing lender and for working capital purposes.
    • On May 3, 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 $150,000 accounts receivable purchase facility was provided to a trucking company in Utah on May 3. The financing will be used for working capital purposes.
    • On May 6, a $150,000 accounts receivable purchase facility was provided to a trucking company in Georgia. The financing will be used for working capital purposes.
    • A $3,000,000 ledgered line of credit facility was provided to a staffing company in Florida on May 6. The financing will be used to pay off an existing lender and for working capital purposes.
    • On May 8, 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.
    • A $100,000 accounts receivable purchase facility was provided to a trucking company in Texas on May 10. The financing will be used for working capital purposes.
    • On May 10, a $250,000 accounts receivable purchase facility was provided to a water waste disposal company in Minnesota. The financing will be used for working capital purposes.
    • A $300,000 accounts receivable purchase facility was provided to a startup trucking company in Illinois on May 10. The financing will be used for working capital purposes.
    • On May 10, a $2,750,000 accounts receivable purchase facility was provided to an oil and gas services provider in Ohio. The financing will be used for working capital purposes.
    • A $100,000 accounts receivable purchase facility was provided to a trucking company in Texas on May 10. The financing will be used for working capital purposes.
    • On May 13, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in New York. The financing will be used for working capital purposes.
    • A $2,000,000 ledgered line of credit facility was provided to a technology and product engineering solutions company in Illinois on May 14. The financing will be used to pay off an existing lender and for working capital purposes.
    • On May 14, a $150,000 accounts receivable purchase facility was provided to a startup freight brokerage in Ohio. The financing will be used for working capital purposes.
    • A $100,000 accounts receivable purchase facility was provided to a trucking company in Oklahoma on May 15. The financing will be used for working capital purposes.
  • Crestmark Equipment Finance:
    • On May 8, a $606,396 new lease transaction was completed with a wholesaler and distributor of bulk oil in the midwestern U.S. The financing will be used for capital equipment.
    • A $4,911,684 new lease transaction was completed with an IT company in the eastern U.S. on May 8. The financing will be used for software.
    • On May 8, an $8,115,780 new lease transaction was completed with a networking solutions provider in the western U.S. The financing will be used for capital equipment.
    • An $823,664 new lease transaction was completed with an IT services provider in the southwestern U.S. on May 13. The financing will be used for IT equipment.
    • On May 13, a $1,790,655 new lease transaction was completed with an owner and operator of private clubs in the southern U.S. The financing will be used for capital equipment.
    • A $1,276,613 new lease transaction was completed with a manufacturer and distributor of canned food products in the southeastern U.S. on May 15. The financing will be used for capital equipment.
  • Crestmark Vendor Finance funded $3,946,869 in 63 new lease transactions in the first half of May.
  • The Joint Ventures Division:
    • On May 9, a $2,263,023 120-month operating lease transaction was completed with a solar developer in Vermont. The financing will be used to install a 756 KW DC solar farm, which has a medical center as the offtaker.
  • The Government Guaranteed Lending Division:
    • On May 1, a $350,000 SBA express line of credit facility was provided to a commercial and home restoration services franchisee in South Carolina. The financing will be used for acquisition purposes.
    • A $495,000 SBA 7(a) term loan facility was provided to a recreational vehicle rental company in California on May 3. The financing will be used for acquisition and for working capital purposes.
    • On May 15, a $255,000 SBA 7(a) term loan facility was provided to an educational consultancy in North Carolina. The financing will be used to pay off an existing lender.
    • A $400,000 term loan facility was provided to an independent insurance agency in Colorado on May 15. The financing will be used for acquisition and for working capital purposes.

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