Crestmark Provides Over $25.6MM in Commercial Financing

November 05, 2018, 07:20 AM

Filed Under: Transaction Announcements

Related: Crestmark, Crestmark Equipment Finance

Crestmark announced it provided more than $25.6 million in commercial financing to 83 businesses in the second half of October.

Crestmark Equipment Finance provided $1,245,051 in one new lease transaction; Crestmark Vendor Finance provided $4,652,506 in 64 new lease transactions; the Joint Ventures Division provided $1,389,876 in one new lease transaction; Crestmark secured a total of $12,800,000 in ABL financial solutions for 14 new clients; and the Government Guaranteed Lending Division provided $5,530,000 in financing for three new clients.

Crestmark Equipment Finance
On Oct. 24, a $1,245,051 new lease transaction was completed with an oilfield services company in the southern U.S. The financing will be used for capital equipment.

The Joint Ventures Division
On Oct. 30, a $1,389,876 120-month operating lease transaction was completed with a solar developer in Pennsylvania. The financing will be used to install a 701 KW DC solar system in Vermont, which has a local farm as the offtaker.

Crestmark’s Asset-based Lending Division

On Oct. 17, a $150,000 accounts receivable purchase facility was provided to a trucking company in Indiana. The financing will be used for working capital purposes.
A $2,500,000 ledgered line of credit facility was provided to a supplier of automotive and manufacturing components in Michigan on Oct. 17. The financing will be used to pay off an existing lender and for working capital purposes.
On Oct. 17, a $3,000,000 ledgered line of credit facility was provided to a staffing agency in California. The financing will be used for working capital purposes.
A $750,000 ledgered line of credit facility was provided to a staffing agency in Colorado on Oct. 17. The financing will be used to pay off an existing lender and for working capital purposes.
On Oct. 18, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Tennessee. The financing will be used for working capital purposes.
A $2,500,000 ledgered line of credit facility was provided to an equipment manufacturer and distributor in California on Oct. 22. The financing will be used to pay off an existing lender and for working capital purposes.
On Oct. 22, a $500,000 accounts receivable purchase facility was provided to a startup trucking company in Arizona. The financing will be used for working capital purposes.
A $100,000 accounts receivable purchase facility was provided to a trucking company in North Carolina on Oct. 23. The financing will be used for working capital purposes.
On Oct. 25, a $1,650,000 ledgered line of credit facility was provided to a manufacturer and supplier of power systems and components in New Jersey. 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 trucking company in Florida on Oct. 26. The financing will be used for working capital purposes.
On Oct. 29, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Missouri. The financing will be used for working capital purposes.
An $800,000 ledgered line of credit facility was provided to a distributor of lighting products in California on Oct. 30. The financing will be used for working capital purposes.
On Oct. 31, a $250,000 accounts receivable purchase facility was provided to a trucking company in North Carolina. The financing will be used for working capital purposes.
A $150,000 accounts receivable purchase facility was provided to a startup trucking company in Michigan on Oct. 31. The financing will be used for working capital purposes.

The Government Guaranteed Lending Division

On Oct. 24, a $2,023,000 term loan facility was provided to an investment advisory firm in Ohio. The financing will be used to pay off an existing lender.
A $1,382,000 term loan facility was provided to a financial services franchise in Alabama on Oct. 26. The financing will be used to pay off an existing lender and for acquisition purposes.
On Oct. 31, a $2,125,000 term loan facility was provided to an investment advisory firm in North Carolina. The financing will be used to pay off an existing lender.

Crestmark Vendor Finance

Crestmark Vendor Finance funded $4,652,506 in 64 transactions in the second half of October.