Equipment Leasing and Finance Association - Equiping Business for Success

Crestmark Provides More Than $81 Million in Commercial Financing to 88 Businesses in the Second Half of May

Posted 06/06/2019

TROY, Mich., (June 5, 2019) – Crestmark secured a total of $33,650,000 in ABL financial solutions for 16 new clients; Crestmark Equipment Finance provided $634,961 in one new lease transaction; Crestmark Vendor Finance provided $6,151,576 in 66 new lease transactions; and the Government Guaranteed Lending Division provided $40,615,230 in financing for six new clients in the second half of May.

  • Crestmark’s Asset-Based Lending Divisions:
    • On May 16, a $50,000 accounts receivable purchase facility was provided to a startup trucking company in Utah. The financing will be used for working capital purposes.
    • A $400,000 accounts receivable purchase facility was provided to a freight brokerage in Oklahoma on May 16. The financing will be used for working capital purposes.
    • On May 16, a $400,000 accounts receivable purchase facility was provided to a trucking company in Indiana. The financing will be used for working capital purposes.
    • A $500,000 accounts receivable purchase facility was provided to a manufacturer of leather goods in Florida on May 22. The financing will be used for working capital purposes.
    • On May 22, a $15,000,000 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 $150,000 accounts receivable purchase facility was provided to a startup trucking company in Kentucky on May 23. The financing will be used to pay off an existing lender and for working capital purposes.
    • On May 23, a $2,000,000 ledgered line of credit facility was provided to a metal fabrication company in Tennessee. The financing will be used to pay off an existing lender and for working capital purposes.
    • A $750,000 ledgered line of credit facility was provided to a metal fabrication company in Indiana on May 23. The financing will be used to pay off an existing lender and for working capital purposes.
    • On May 23, a $5,000,000 asset-based line of credit facility was provided to a plastic injection molding company in Alabama. 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 May 24. The financing will be used for working capital purposes.
    • On May 24, a $250,000 accounts receivable purchase facility was provided to a trucking company in Illinois. The financing will be used for working capital purposes.
    • A $200,000 accounts receivable purchase facility was provided to a trucking company in Missouri on May 24. The financing will be used for working capital purposes.
    • On May 28, a $150,000 accounts receivable purchase facility was provided to trucking company in Kentucky. The financing will be used for working capital purposes.
    • A $7,500,000 ledgered line of credit facility was provided to an equipment manufacturer for the oil and gas industry in Texas on May 29. The financing will be used for working capital purposes.
    • On May 30, a $1,000,000 ledgered line of credit facility was provided to a staffing company in Ohio. 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 California on May 31. The financing will be used for working capital purposes.
  • Crestmark Equipment Finance:
    • On May 29, a $634,961 new lease transaction was completed with a fitness club in the southwestern U.S. The financing will be used for capital equipment.
  • Crestmark Vendor Finance funded $6,151,576 in 66 new lease transactions to 65 businesses in the second half of May.
  • The Government Guaranteed Lending Division:
    • On May 17, a $2,576,000 SBA 7(a) term loan facility was provided to a swim school franchisee in Florida. The financing will be used for working capital purposes.
    • A $3,500,000 USDA Business & Industry loan facility was provided to a solar developer in Texas on May 31. The financing will be used to provide permanent debt for a 14.25 MW DC solar farm, which has an energy provider as the offtaker.
    • On May 31, a $6,862,535 term loan facility was provided to a solar developer in Texas. The financing will be used for construction of a 7.13 MW DC solar farm; once construction is completed, the term loan facility will be refinanced by a $2,850,000 USDA Business & Industry permanent debt loan facility.
    • An $11,279,190 term loan facility was provided to a solar developer in Texas on May 31. The financing will be used for construction of a 10.73 MW DC solar farm; once construction is completed, the term loan facility will be refinanced by a $4,750,000 USDA Business & Industry permanent debt loan facility.
    • On May 31, a $15,485,505 term loan facility was provided to a solar developer in Texas. The financing will be used for construction of a 14.5 MW DC solar farm; once construction is completed, the term loan facility will be refinanced by a $6,800,000 USDA Business & Industry permanent debt loan facility.
    • A $912,000 term loan facility was provided to a financial advisory firm in Nevada on May 31. The financing will be used for acquisition purposes.

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