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Crestmark, the Commercial Finance Division of MetaBank®, Provides More Than $101.7 Million in Commercial Financing to 142 Businesses in Late March and Early April

Posted 04/28/2022
TROY, Mich., (April 28, 2022) – Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $56,450,000 in ABL/factoring financial solutions for 26 new clients; Crestmark Equipment Finance provided $25,043,991 in 21 new large ticket transactions and $11,837,288 in 93 new small ticket vendor transactions; and the Structured Finance group provided $8,369,000 in financing for two new clients in the second half of March and first half of April.

Working Capital, Asset-Based Lending and Factoring financial solutions to be used for various purposes such as working capital and to pay off existing lenders were provided:

Accounts Receivable facilities:
$2,000,000 to a freight-all-kinds transportation company in Illinois.  
$2,000,000 to a general freight transportation company in Illinois.  
$300,000 to a flatbed trucking company in Georgia.
$200,000 to a dry van transport company in Florida.
$200,000 to a power only trucking company in California.
$150,000 to a refrigerated transport company in Minnesota.
$150,000 to a freight-all-kinds trucking company in North Carolina.
$150,000 to a dry van trucking company in Connecticut.
$150,000 to a flatbed trucking company in California.
$150,000 to a power only trucking company in North Carolina.
$150,000 to a refrigerated transportation company in Arizona.
$150,000 to a freight-all-kinds transportation company in Florida.
$150,000 to a flatbed trucking company in Texas.
$150,000 to a freight-all-kinds transportation company in Texas.
$150,000 to a power only trucking company in New Jersey.
$150,000 to a power only trucking company in Texas.
$150,000 to a freight-all-kinds transportation company in Texas.
$150,000 to a waste transport company in Maryland.
$150,000 to a dry van trucking company in New Jersey.
$150,000 to a freight-all-kinds transportation company in Texas.

Asset-Based Lending facilities:
$22,500,000 to a solid surface wholesale distributor in Pennsylvania.
$8,500,000 to an automotive aftermarket supplier in Illinois.
$7,000,000 to a flooring distributor in California. 
$3,500,000 to a furniture manufacturer in Michigan. 
$3,000,000 to a solar mounting systems manufacturer in Washington.

Ledgered Line of Credit facilities:
$5,000,000 to a solar battery pack provider in California.

Equipment Finance transactions included, but were not limited to:
$7,837,378 to an oil and gas field services company in the southern U.S. for construction equipment.
$3,577,738 to a food products provider in the southern U.S. for capital equipment.
$2,265,092 to a commercial services company in the eastern U.S. for operational equipment. 

Small Ticket Vendor Equipment Finance transactions included, but were not limited to:
A trucking company in the midwestern U.S. for transportation equipment. 
A window covering company in the western U.S. for capital equipment.
A transportation company in the midwestern U.S. for transportation equipment. 
A pharmaceutical company in the southern U.S. for operational equipment.
A printing company in the southern U.S. for operational equipment.
A transportation company in the southern U.S. for transportation equipment.
A medical company in the southern U.S. for operational equipment.
A container company in the western U.S. for transportation equipment.

Structured Finance solutions, to be used for various purposes such as acquisition, working capital, and more included:
$8,098,000 term loan to an investment advisor in California.
$271,000 SBA 7(a) loan to an insurance agency in New York.
Author
Lisa Beattie
Organization
Crestmark, a division of MetaBank
Phone Number
248.267.1639

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