Crestmark Provides $22.1MM+ in Commercial Financing to 65 Businesses

April 01, 2021, 07:20 AM

Filed Under: Transaction Announcements

Related: Crestmark, Crestmark Equipment Finance, Crestmark Vendor Finance

Crestmark Provides announced it provided more than $22.1 million in commercial financing to 65 businesses in the first half of March. Crestmark Equipment Finance provided $7,543,149 in four new lease transactions; Crestmark Vendor Finance provided $4,928,905 in 55 new lease transactions; and
Crestmark secured a total of $9,715,246 in ABL financial solutions for six new clients.

Crestmark Equipment Finance

A $2,223,746 new lease transaction was completed with a wholesale food company in the midwestern U.S. on March 4. The financing will be used for capital equipment.
On March 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 March 8. The financing will be used for medical equipment.
On March 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
Crestmark Vendor Finance funded $4,928,905 in 55 new transactions in the first half of March. Some highlights include:

On March 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 March 5. The financing will be used for transport equipment.
On March 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 March 15. The financing will be used for transportation equipment.

Crestmark’s Asset-Based Lending and Factoring

On March 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 March 5. The financing will be used for working capital purposes.
On March 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 March 9. The financing will be used for working capital purposes.
On March 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.