Crestmark, the Commercial Finance Division of MetaBank® Provides More Than $65.7 Million in Commercial Financing to 42 Businesses in the First Half of June

Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $53,300,000 in ABL/factoring financial solutions for 17 new clients; Crestmark Equipment Finance provided $964,688 in two new transactions; Crestmark Vendor Finance provided $2,600,586 in 21 new transactions; and the Government Guaranteed Lending group provided $8,840,000 in financing for two new clients in the first half of June.

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

Accounts Receivable facilities:

•            $150,000 to a refrigerated trucking company in Texas.

•            $250,000 to a refrigerated trucking company in California.

•            $100,000 to a trucking company in Indiana.

•            $500,000 to a transportation company in Texas.

•            $400,000 to a refrigerated trucking company in Ohio.

•            $150,000 to a freight-all-kinds trucking company in North Carolina.

•            $1,000,000 to a freight-all-kinds trucking company in California.

•            $15,000,000 to a freight brokerage in Florida.

•            $400,000 to a freight-all-kinds trucking company in Florida.

•            $150,000 to a trucking company in Missouri.

•            $650,000 to a transportation company in Florida.

•            $150,000 to a freight-all-kinds trucking company in Illinois.

•            $500,000 to a transportation company in Texas.

Asset-Based Loan facilities:

•            $6,000,000 to a wholesale meat processor and distributor in California.

•            $20,000,000 to a cell phone manufacturing company in Florida.

•            $5,400,000 to a medical device manufacturer in South Dakota.

Ledgered Line of Credit facilities:

•            $2,500,000 to a freight services company in Tennessee.

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

•            A medical company in the southern U.S. for medical equipment. 

•            A trucking company in the southcentral U.S. for transportation equipment.

•            A crane company in the southcentral U.S. for transportation equipment.

•            A medical spa company in the midwestern U.S. for medical equipment.

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

•            $440,000 SBA 7(a) loan to a printing services company in Florida.

•            $8,400,000 USDA Business & Industry loan to a hotel in Texas.

Crestmark, the Commercial Finance division of MetaBank®, N.A., provides innovative financial solutions for businesses nationwide. MetaBank is a financial enablement company that works to increase financial availability, choice, and opportunity for all. Crestmark’s 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, Louisiana, Tennessee, and representatives nationwide; and a Canadian foreign representative office. www.crestmark.com