Crestmark Provides $23.2MM in Commercial Financing to 86 Businesses

November 21, 2018, 07:15 AM

Filed Under: Transaction Announcements

Related: Crestmark, Crestmark Equipment Finance, Crestmark Vendor Finance

Crestmark provided more than $23.2 million in commercial financing to 86 businesses in the first half of November. Crestmark Equipment Finance provided $12,095,622 in four new lease transactions; Crestmark Vendor Finance provided $6,700,000 in 75 new lease transactions; Crestmark secured a total of $3,550,000 in ABL financial solutions for six new clients; and the Government Guaranteed Lending Division provided $900,000 in financing for one new client.

Crestmark Equipment Finance

On Nov. 1, a $2,505,967 new lease transaction was completed with a pharmaceutical company in the Northeast. The financing will be used for software.
A $7,195,743 new lease transaction was completed with an oil and gas services company in the Midwest. on Nov. 1. The financing will be used for capital equipment.
On Nov. 9, a $942,214 new lease transaction was completed with an oil and gas services company in the eastern U.S. The financing will be used for capital equipment.
A $1,451,698 new lease transaction was completed with a fortune 500 company in the Midwest on Nov. 14. The financing will be used for IT equipment.

Crestmark Vendor Finance Division
The division funded $6,700,000 in 75 transactions in the first half of November.

Government Guaranteed Lending Division
On Nov. 9, a $900,000 term loan facility was provided to an investment advisory firm in New Hampshire. The financing will be used for acquisition purposes.

Crestmark’s Asset-Based Lending Division

On Nov. 1, a $150,000 accounts receivable purchase facility was provided to a startup trucking company in Montana. The financing will be used for working capital purposes.
A $2,500,000 ledgered line of credit facility was provided to a heavy equipment company that services the oil and gas industry in Texas on Nov. 2. The financing will be used to pay off an existing lender and for working capital purposes.
On Nov. 5, a $300,000 accounts receivable purchase facility was provided to a trucking company in Ohio. The financing will be used for working capital purposes.
A $200,000 accounts receivable purchase facility was provided to a startup trucking company in Oklahoma on Nov. 5. The financing will be used for working capital purposes.
On Nov. 8, a $250,000 accounts receivable purchase facility was provided to a trucking company in Louisiana. The financing will be used for working capital purposes.
A $150,000 accounts receivable purchase facility was provided to trucking company in Illinois on Nov. 13. The financing will be used for working capital purposes.