Crestmark Provides More Than $23.1 Million in Commercial Financing to 11 Businesses in the First Half of November

November 18, 2020

Source: Crestmark

Crestmark secured a total of $6,050,000 in ABL financial solutions for five new clients; Crestmark Equipment Finance provided $4,371,057 in three new lease transactions; the Government Guaranteed Lending group provided $12,722,000 in financing for three new clients in the first half of November.

•            Crestmark’s Asset-Based Lending:

o            On Nov. 4, a $750,000 ledgered line of credit facility was provided to a healthcare services provider in Utah. The financing will be used for working capital purposes.

o            A $150,000 accounts receivable purchase facility was provided to a cargo transport company in Texas on Nov. 4. The financing will be used to pay off an existing lender and for working capital purposes.

o            On Nov. 5, a $1,000,000 accounts receivable purchase facility was provided to a refrigerated transportation company in California. The financing will be used to pay off an existing lender and for working capital purposes.

o            A $150,000 accounts receivable purchase facility was provided to a flatbed intrastate trucking company in Georgia on Nov. 10. The financing will be used for working capital purposes.

o            On Nov. 10, a $4,000,000 ledgered line of credit facility was provided to a natural stone supplier in Oklahoma. The financing will be used for working capital purposes.

•            Crestmark Equipment Finance:

o            On Nov. 2, a $777,767 new lease transaction was completed with a global manufacturing company in the midwestern U.S. The financing will be used for IT equipment.

o            A $1,886,365 new lease transaction was completed with a housing authority in the northeastern U.S. on Nov. 4. The financing will be used for solar equipment.

o            On Nov. 6, a $1,706,925 new lease transaction was completed with a global manufacturing company in the midwestern U.S. The financing will be used for capital equipment.

•            Government Guaranteed Lending:

o            On Nov. 2, a $10,000,000 term loan facility was provided to a solar developer in California. The financing will be used for working capital purposes. 

o            A $2,532,000 term loan facility was provided to a solar developer in New Hampshire on Nov. 3. The financing will be used for working capital purposes.

o            On Nov. 13, a $190,000 term loan facility was provided to a winery in California. The financing will be used 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

 

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