Crestmark Provides More Than $22.1 Million in Commercial Financing to 65 Businesses in the First Half of March

Crestmark secured a total of $9,715,246 in ABL financial solutions for six new clients; Crestmark Equipment Finance provided $7,543,149 in four new lease transactions; and Crestmark Vendor Finance provided $4,928,905 in 55 new lease transactions.

•  Crestmark’s Asset-Based Lending and Factoring:

o  On Mar. 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.

o  A $300,000 accounts receivable purchase facility was provided to a refrigerated trucking company in Georgia on Mar. 5. The financing will be used for working capital purposes.

o On Mar. 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.

o  A $4,000,000 (CAD) ledgered line of credit facility was provided to a transportation company in Alberta, Canada on Mar. 9. The financing will be used for working capital purposes.

o  On Mar. 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.

o  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.

•   Crestmark Equipment Finance:

o  A $2,223,746 new lease transaction was completed with a wholesale food company in the midwestern U.S. on Mar. 4. The financing will be used for capital equipment.

o  On Mar. 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.

o  A $697,993 new lease transaction was completed with an aesthetic clinic in the western U.S. on Mar. 8. The financing will be used for medical equipment.

o  On Mar. 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 funded $4,928,905 in 55 new transactions in the first half of March. Some highlights include:

o On Mar. 1, an equipment finance transaction was completed with a healthcare company in the midwestern U.S. The financing will be used for medical equipment.

o  An equipment finance transaction was completed with a transportation company in the midwestern U.S on Mar. 5. The financing will be used for transport equipment.

o  On Mar. 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. 

o   A new equipment finance transaction was completed with a trucking company in the southeastern U.S. on Mar. 15. The financing will be used for transportation equipment.

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