Crestmark Provides $57.5MM+ in Commercial Financing to 132 Businesses in November

December 13, 2021, 07:07 AM

Filed Under: Transaction Announcements

Related: Crestmark, Crestmark Equipment Finance, Crestmark Vendor Finance, MetaBank

Crestmark, the Commercial Finance Division of MetaBank, announced it provided more than $57.5 million in commercial financing to 132 businesses in November. Crestmark secured a total of $13,600,000 in ABL/factoring financial solutions for 23 new clients; Crestmark Equipment Finance provided $24,804,003 in 29 new transactions; Crestmark Vendor Finance provided $9,938,833 in 76 new transactions; the Government Guaranteed Lending group provided $8,195,000 in financing for three new clients; and the Joint Ventures group provided $1,007,250 in one new transaction in the month of November.

Asset-Based Lending and Factoring financial solutions to be used for various purposes such as working capital and to pay off existing lenders included:

Accounts Receivable facilities:

$2,000,000 to a refrigerated transport company in California.
$1,000,000 to a Freight All Kinds trucking company in Illinois.
$1,000,000 to an integrated solutions provider in Texas.
$750,000 to a Freight All Kinds trucking company in Nebraska.
$500,000 to a dry and refrigerated trucking company in Nova Scotia.
$500,000 to an automotive parts distributor in Michigan.
$300,000 to a materials transport company in Texas.
$300,000 to a transportation company in Ohio.
$250,000 to a refrigerated FAK trucking company in Massachusetts.
$250,000 to an intermodal transportation company in Georgia.
$200,000 to a dry van trucking company in Texas.
$200,000 to a Freight All Kinds trucking company in Texas.
$150,000 to a power-only trucking company in Alabama.
$150,000 to a dry van trucking company in Colorado.
$150,000 to a power-only trucking company in Washington DC.
$150,000 to a trucking company in Texas.
$150,000 to a dry van trucking company in Idaho.
$150,000 to a trucking company in Georgia.
$150,000 to a regional trucking company in South Carolina.
$150,000 flatbed trucking in Florida.
$150,000 to a trucking company in Maryland.

Ledgered Line of Credit facilities:

$3,000,000 to a lighting manufacturer in Texas.
2,000,000 to a staffing services company California.

Equipment Finance transactions included, but were not limited to:

$2,776,526 to a government agency in the eastern U.S. for IT equipment.
$5,264,228 to a linen supply company in the eastern U.S. for transportation equipment.
$2,605551 to a telecommunications company in the midwestern U.S. for networking equipment.
$2,654,902 to a financial services company in the eastern U.S. for communications equipment.

Vendor Finance equipment finance transactions included, but were not limited to:

A fitness company in the southern U.S. for fitness equipment.
A laser company in the southern U.S. for operational equipment.
A millwork company in the southern central U.S. for machinery.
A trucking company in the southern central U.S. for transportation equipment.
A sod company in the southern U.S. for operational equipment.
A timber transport company in the southern U.S. for transportation equipment.
A medical company in the western central U.S. for operational equipment.
A trucking company in the southeastern central U.S. for transportation equipment.

Government Guaranteed Lending financial solutions, to be used for various purposes such as acquisition, working capital, and more included: