Crestmark Provides More Than $22.1 Million in Commercial Financing to 65 Businesses in the First Half of March

Posted 04/01/2021

TROY, Mich., (April 1, 2021) – Crestmark secured a total of $9,715,246 in ABL financial solutions for six new clients; Crestmark Equipment Finance provided $7,543,149 in four new lease transactions; and Crestmark Vendor Finance provided $4,928,905 in 55 new lease transactions.

  • Crestmark’s Asset-Based Lending and Factoring:
    • On Mar. 5, a $3,000,000 ledgered line of credit facility was provided to a freight broker in Minnesota. The financing will be used to pay off an existing lender and for working capital purposes.
    • A $300,000 accounts receivable purchase facility was provided to a refrigerated trucking company in Georgia on Mar. 5. The financing will be used for working capital purposes.
    • On Mar. 9, a $2,000,000 ledgered line of credit facility was provided to a backup power supply and distribution company in Oregon. The financing will be used for working capital purposes.
    •  A $4,000,000 (CAD) ledgered line of credit facility was provided to a transportation company in Alberta, Canada on Mar. 9. The financing will be used for working capital purposes.
    • On Mar. 10, a $250,000 accounts receivable purchase facility was provided to a freight-all-kinds trucking company in California. The financing will be used for working capital purposes.
    • A $1,000,000 ledgered line of credit facility was provided to a precision manufacturing company in Massachusetts on March 12. The financing will be used for working capital purposes.

 

  • Crestmark Equipment Finance:
    • A $2,223,746 new lease transaction was completed with a wholesale food company in the midwestern U.S. on Mar. 4. The financing will be used for capital equipment.
    • On Mar. 4, a $1,955,811 new lease transaction was completed with an energy management company in the midwestern U.S. The financing will be used for IT equipment.
    • A $697,993 new lease transaction was completed with an aesthetic clinic in the western U.S. on Mar. 8. The financing will be used for medical equipment.
    • On Mar. 10, a $2,665,599 new lease transaction was completed with a video telematics company in the western U.S. The financing will be used for operational equipment.
  • Crestmark Vendor Finance funded $4,928,905 in 55 new transactions in the first half of March. Some highlights include:
    • On Mar. 1, an equipment finance transaction was completed with a healthcare company in the midwestern U.S. The financing will be used for medical equipment.
    • An equipment finance transaction was completed with a transportation company in the midwestern U.S on Mar. 5. The financing will be used for transport equipment.
    • On Mar. 10, a new equipment finance transaction was completed with a healthcare company in the southeastern U.S. The financing will be used for medical equipment. 
    • A new equipment finance transaction was completed with a trucking company in the southeastern U.S. on Mar. 15. The financing will be used for transportation equipment.

Author
Lisa Beattie
Organization
Crestmark
Phone Number
2482671639

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