Crestmark Provides More Than $79 Million in Commercial Financing to 87 Businesses in the Second Half of December

Crestmark secured a total of $9,700,000 in ABL financial solutions for four new clients; Crestmark Equipment Finance provided $25,440,689 in ten new lease transactions; Crestmark Vendor Finance provided $5,792,233 in 65 new lease transactions; and the Government Guaranteed Lending group provided $38,165,000 in financing for eight new clients in the second half of December.

•            Crestmark’s Asset-Based Lending:

o            On Dec. 16, a $3,000,000 asset-based lending facility was provided to a blender and distributor of quality ink products in Michigan. The financing will be used to pay off an existing lender and for working capital purposes.

o            A $200,000 accounts receivable purchase facility was provided to a freight all kinds transportation in Michigan on Dec. 21. The financing will be used for working capital purposes.

o            On Dec. 23, a $4,000,000 asset-based lending facility was provided to an oilfield materials distributor in Louisiana. The financing will be used for acquisition purposes.

o            A $2,500,000 accounts receivable purchase facility was provided to a transportation company in California on Dec. 23. The financing will be used to pay off an existing lender and for working capital purposes.

•            Crestmark Equipment Finance:

o            On Dec. 16, a $675,395 new lease transaction was completed with a networking provider in the western U.S. The financing will be used for IT equipment.

o            A $4,454,400 new lease transaction was completed with an electrical equipment manufacturing company in the eastern U.S. on Dec. 16. The financing will be used for operational equipment.

o            On Dec. 17, a $1,660,930 new lease transaction was completed with an entertainment and hospitality company in the western U.S. The financing will be used for IT equipment.

o            A $1,065,323 new lease transaction was completed with a facility support services company in the western U.S. on Dec. 21. The financing will be used for capital equipment.

o            On Dec. 21, a $810,442 new lease transaction was completed with a business services and marketing company in the midwestern U.S. The financing will be used for IT equipment.

o            A $4,328,176 new lease transaction was completed with an automotive manufacturer in the southeastern U.S. on Dec. 23. The financing will be used for operational equipment.

o            On Dec. 23, a $3,963,582 new lease transaction was completed with an apparel company in the southeastern U.S. The financing will be used for capital equipment.

o            A $3,495,856 new lease transaction was completed with a global manufacturing company in the midwestern U.S. on Dec. 23. The financing will be used for IT equipment.

o            On Dec. 23, a $4,000,000 new lease transaction was completed with an outsourcing services provider in the western U.S. The financing will be used for communications equipment.

o            A $986,585 new lease transaction was completed with a window and door manufacturer in the northwestern U.S. on Dec. 30. The financing will be used for capital equipment.

•            Crestmark Vendor Finance funded $5,792,233 in 65 new transactions in the second half of December. Some highlights include:

o            An equipment finance transaction was completed with a medical office in the southeastern U.S. on Dec. 16. The financing will be used for essential equipment.

o            On Dec. 23, an equipment finance transaction was completed with a construction company in the western U.S. The financing will be used for operational equipment.

o            A new equipment finance transaction was completed with a manufacturing company in the western U.S. on Dec. 28. The financing will be used for essential equipment. 

o            On Dec. 31, a new equipment finance transaction was completed with a medical imaging provider in the northwestern U.S. The financing will be used for medical equipment. 

•            Government Guaranteed Lending:

o            On Dec. 18, a $2,794,300 USDA B&I term loan facility was provided to a solar developer in Missouri. The financing will be used to pay off an existing lender. 

o            A $10,505,400 term loan facility was provided to a solar developer in New Hampshire on Dec. 22. The financing will be used for construction purposes.

o            On Dec. 28, a $1,770,000 term loan facility was provided to a wealth advisory firm in Pennsylvania. The financing will be used for acquisition purposes and to pay off an existing lender.

o            A $3,141,900 USDA B&I term loan facility was provided to a solar developer in Missouri on Dec. 29. The financing will be used to pay off an existing lender and for working capital purposes.

o            On Dec. 31, a $2,878,800 term loan facility was provided to a solar developer in North Carolina. The financing will be used for construction purposes. 

o            A $3,419,600 term loan facility was provided to a solar developer in North Carolina on Dec. 31. The financing will be used for construction purposes.

o            On Dec. 31, a $11,400,000 term loan facility was provided to a solar developer in California. The financing will be used for working capital purposes.

o            A $2,255,000 term loan facility was provided to a financial advisory firm in North Carolina on Dec. 31. The financing will be used for acquisition and for working capital purposes.

Crestmark, a division of MetaBank®, N.A., provides innovative financial solutions for businesses nationwide. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, term loans, factoring, government guaranteed lending, machinery/equipment financing and equipment leasing. Crestmark has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, renewable energy, medical receivables, government contractors, hospitality/hotels, insurance agencies, and technology hardware/software. The Crestmark division is headquartered in Michigan, with additional offices in California, Florida, Louisiana, Tennessee, and representatives nationwide; and a Canadian foreign representative office. www.crestmark.com