FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News

Print

Crestmark Provides $50.8MM+ in Commercial Financing to 135 Businesses

October 22, 2020, 07:18 AM

Crestmark announced it provided more than $50.8 million in commercial financing to 135 businesses in the first half of October. Crestmark Equipment Finance provided $2,309,779 in two new lease transactions; Crestmark secured a total of $30,557,358 in ABL financial solutions for 13 new clients; Crestmark Vendor Finance provided $8,572,042 in 117 new transactions; and the Government Guaranteed Lending group provided $9,396,250 in financing for three new clients in the first half of October.

Crestmark Equipment Finance

  • On Oct. 5, a $1,403,465 new lease transaction was completed with a mortgage company in the northeastern U.S. The financing will be used for IT equipment.
  • A $906,314 new lease transaction was completed with a financial services provider in the eastern U.S. on Oct. 8. The financing will be used for operational equipment.

Crestmark’s Asset-Based Lending

  • On Oct. 1, a $1,400,000(CAD) ledgered line of credit facility was provided to a long-distance refrigerated transportation company in British Columbia, Canada. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $350,000 accounts receivable purchase facility was provided to a freight all kinds (FAK) transportation company in Kentucky on Oct. 1. The financing will be used for working capital purposes.
  • On Oct. 1, a $13,000,000 asset-based lending facility was provided to a chemicals packaging and distribution company in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
  • A $9,000,000 asset-based lending facility was provided to a designer and manufacturer of hearth products in Alabama on Oct. 2. The financing will be used to pay off an existing lender.
  • On Oct. 5, a $125,000 accounts receivable purchase facility was provided to a refrigerated transport company in California. The financing will be used for working capital purposes.
  • A $300,000 accounts receivable purchase facility was provided to a flatbed transportation company in Nebraska on Oct. 6. The financing will be used for working capital purposes.
  • On Oct. 6, a $2,000,000 ledgered line of credit facility was provided to a technology-based services provider in Washington. The financing will be used for working capital purposes.
  • A $150,000 accounts receivable purchase facility was provided to a refrigerated FAK transportation company in Texas on Oct. 6. The financing will be used for working capital purposes.
  • On Oct. 6, a $1,200,000(CAD) ledgered line of credit facility was provided to a transportation company in British Columbia, Canada. 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 dry van transportation company in North Carolina on Oct. 7. The financing will be used for working capital purposes.
  • On Oct. 7, a $225,000 accounts receivable purchase facility was provided to a transportation company in South Carolina. The financing will be used for working capital purposes.
  • A $3,000,000 asset-based lending facility was provided to a specialty pharmaceuticals company in New Jersey on Oct. 12. The financing will be used to pay off an existing lender and for working capital purposes.
  • On Oct. 13, a $300,000 accounts receivable purchase facility was provided to a refrigerated transportation company in Ohio. The financing will be used for working capital purposes.

Crestmark Vendor Finance

Crestmark Vendor Finance funded $8,572,042 in 117 new transactions in the first half of October. Some highlights include:

  • An equipment finance transaction was completed with a construction company in the northeastern U.S. on Oct. 2. The financing will be used for transportation equipment.
  • On Oct. 7, an equipment finance transaction was completed with a towing company in the midwestern U.S. The financing will be used for essential equipment.
  • A new equipment finance transaction was completed with a biotechnology company in the northwestern U.S. on Oct. 8. The financing will be used for essential equipment.  
  • On Oct. 15, a new equipment finance transaction was completed with a transportation company in the northwestern U.S. The financing will be used for transportation equipment.

Government Guaranteed Lending

  • On Oct. 2, an $830,000 SBA 7(a) term loan facility was provided to an independent insurance agency in Kentucky. The financing will be used for acquisition and for working capital purposes. 
  • A $2,486,250 term loan facility was provided to a financial advisory firm in Colorado on Oct. 9. The financing will be used for acquisition purposes.
  • On Oct. 15, a $6,080,000 term loan facility was provided to an insurance and financial services company in Washington. The financing will be used for acquisition and for working capital purposes.






Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.