Crestmark Provides More Than $45 Million in Commercial Financing to 65 Businesses in the Second Half of September

Crestmark secured a total of $5,916,667 in ABL financial solutions for five new clients; Crestmark Equipment Finance provided $20,017,859 in 15 new lease transactions; Crestmark Vendor Finance provided $5,101,432 in 46 new lease transactions; the Joint Ventures Division provided $13,294,364 in financing for three clients; and the Government Guaranteed Lending Division provided $740,000 in financing for one new client in the second half of September.

•             Crestmark’s Asset-Based Lending Divisions:

o             On Sept. 17, a $3,166,667 term loan facility was provided to a printed electronics company in California. The financing will be used to pay off an existing lender and for working capital purposes.  

o             A $350,000 ledgered line of credit facility was provided to a contract manufacturing company in Indiana on Sept. 18. The financing will be used for working capital purposes.  

o             On Sept. 18, a $750,000 accounts receivable purchase facility was provided to a fueling services provider in Louisiana. The financing will be used to pay off an existing lender and for working capital purposes.  

o             A $400,000 accounts receivable purchase facility was provided to a trucking company in Colorado on Sept. 19. The financing will be used for working capital purposes.

o             On Sept. 26, a $1,250,000 ledgered line of credit facility was provided to a manufacturer of leather goods in Ohio. The financing will be used to pay off an existing lender and for working capital purposes.

•             Crestmark Equipment Finance:

o             On Sept. 16, a $1,344,658 new lease transaction was completed with a metal forming company in the midwestern U.S. The financing will be used for capital equipment.

o             A $9,304,000 new lease transaction was completed with a fuel cell company in the northeastern U.S. on Sept. 19. The financing will be used for capital equipment.

o             On Sept. 19, a $969,861 new lease transaction was completed with a medical services provider in the northeastern U.S. The financing will be used for capital equipment.

o             A $504,662 new lease transaction was completed with a medical services provider in the southern U.S. on Sept. 19. The financing will be used for capital equipment.

o             On Sept. 19, a $575,730 new lease transaction was completed with an oilfield services company in the southern U.S. The financing will be used for capital equipment.

o             Six new lease transactions totaling $3,490,914 were completed with an energy solutions provider in the southeastern U.S. on Sept. 20 and Sept. 23. The financing will be used for capital equipment.

o             On Sept. 23, a $541,800 new lease transaction was completed with an intermodal infrastructure services provider in the midwestern U.S. The financing will be used for capital equipment.

o             An $850,000 new lease transaction was completed with a rental services company in the southeastern U.S. on Sept. 23. The financing will be used for capital equipment.

o             On Sept. 26, a $772,292 new lease transaction was completed with a fitness club in the northeastern U.S. The financing will be used for capital equipment.

o             A $1,663,942 new lease transaction was completed with a cable provider in the western U.S. on Sept. 27. The financing will be used for IT equipment.

•             Crestmark Vendor Finance funded $5,101,432 in 46 new lease transactions in the second half of September.

•             The Joint Ventures Division:

o             On Sept. 17, a $10,000,000 ledgered line of credit facility was provided to a manufacturing company in Missouri. The financing will be used for working capital purposes.

o             A $981,139 solar construction term loan facility was provided to a manufacturing company in Rhode Island on Sept. 24. The financing will be used to install a 490 KW DC solar farm, which has a local utility as the offtaker. Once the construction of the solar farm is completed, the term loan facility will be refinanced with a 120-month operating lease.

o             On Sept. 26, a $2,313,225 operating lease transaction was completed with a solar developer in Vermont. The financing will be used for a 745 KW DC solar farm, which has a local school district as the offtaker.

•             The Government Guaranteed Lending Division:

o             On Sept. 26, a $740,000 SBA 7(a) term loan facility was provided to a medical imaging services company in Florida. The financing will be used for acquisition and for working capital purposes.

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