Crestmark, the Commercial Finance Division of MetaBank®, Provides More Than $49.8 Million in Commercial Financing to 60 Businesses in the First Half of September

TROY, Mich., (September 24, 2021) – Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $8,530,600 in ABL/factoring financial solutions for 12 new clients; Crestmark Equipment Finance provided $4,526,317 in three new transactions; Crestmark Vendor Finance provided $3,698,699 in 35 new transactions; and the Government Guaranteed Lending group provided $33,050,094 in financing for ten new clients in the first half of September.

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:

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

•            $250,000 to a freight-all-kinds transportation company in Kansas.

•            $200,000 to a refrigerated trucking company in Illinois.

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

•            $150,000 to a regional trucking company in Georgia.

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

•            $150,000 to an auto-hauling company in Florida.

•            $150,000 to a transportation company in Georgia.

Ledgered Line of Credit facilities:

•            $3,000,000 to a frozen foods distributor in California.

•            $2,000,000 to a digital marketing company in California.

•            $2,000,000 (CAD) to a chemical supply company in Alberta, Canada.

•            $250,000 to a less than load (LTL) freight company in Wisconsin.

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

•            A recycling company in the southeastern U.S. for operational equipment. 

•            A transportation company in the southeastern U.S. for geo-tracking equipment.

•            A transportation company in the midwestern U.S. for transportation equipment.

•            An automotive repair company in the southeastern U.S. for operational equipment.

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

•            $8,800,000 term loan to a solar company in California

•            $3,464,267 term loan to a solar company in California.

•            $3,276,538 term loan to a solar company in North Carolina.

•            $3,100,000 term loan to a solar company in California.

•            $3,069,289 term loan to a solar company in California.

•            $2,900,000 term loan to an investment advisory firm in North Carolina.

•            $2,600,000 term loan to a solar company in California.

•            $2,550,000 term loan to a solar company in North Carolina.

•            $2,190,000 SBA 7(a) loan to an independent insurance agency in New Hampshire. 

•            $1,100,000 term loan to a solar company in Colorado.

Crestmark, the Commercial Finance division of MetaBank®, N.A., provides innovative financial solutions for businesses nationwide. The MetaBank mission is Financial Inclusion for All® and the company 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