- J D Factors Provided $8,725,000 in new Factoring Facilities to 30 new Clients in March
- Crestmark, the Commercial Finance Division of MetaBank®, Provides More Than $41.2 Million in Commercial Financing to 61 Businesses in the Second Half of February
- SFNet Michigan - Electric Vehicle Update Panel Discussion with TMA Detroit & RMA East Michigan
- Tiger Finance Provides $8.2 Million Credit Facility to Outdoor Adventure Brands
- Ares Commercial Finance Served as Lead and Agent for the Financing of a $210 Million Senior Secured Cross-Border Revolving Line of Credit to MicroStar Logistics
Crestmark Provides More Than $70.5 Million in Commercial Financing to 83 Businesses in the Second Half of March
April 19, 2021
Source: Crestmark
Crestmark secured a total of $15,150,000 in ABL/factoring financial solutions for seven new clients; Crestmark Equipment Finance provided $30,768,825 in 15 new transactions; Crestmark Vendor Finance provided $6,544,102 in 57 new transactions; and the Government Guaranteed Lending group provided $18,126,800 in financing for four new clients in the second half of March.
• Crestmark’s Asset-Based Lending and Factoring:
o On Mar. 16, a $200,000 accounts receivable purchase facility was provided to a dry van transportation company in Missouri. The financing will be used for working capital purposes.
o On Mar. 19, a $150,000 accounts receivable purchase facility was provided to a trucking company in Florida. The financing will be used for working capital purposes.
o A $150,000 accounts receivable purchase facility was provided to a freight broker in Michigan on Mar. 22. The financing will be used for working capital purposes.
o On Mar. 23, a $500,000 accounts receivable purchase facility was provided to a freight-all-kinds trucking company in Alabama. 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 transportation company in Maryland on March 26. The financing will be used to pay off an existing lender and for working capital purposes.
o On Mar. 29, a $5,000,000 asset-based line of credit facility was provided to a metallurgical services provider in Wisconsin. The financing will be used to pay off an existing lender and for working capital purposes.
o A $9,000,000 asset-based line of credit facility was provided to a construction products distributor in Missouri on March 31. The financing will be used to pay off an existing lender and for working capital purposes.
• Crestmark Equipment Finance funded $30,768,825 in 15 new lease transactions in the second half of March. Some highlights include:
o A $6,490,869 new lease transaction was completed with a machinery manufacturer in the northeastern U.S. on Mar. 18. The financing will be used for capital equipment.
o On Mar. 24, a $5,700,000 new lease transaction was completed with a semiconductor products producer in the western U.S. The financing will be used for alternative energy equipment.
o A $5,331,045 new lease transaction was completed with a food wholesaler in the northeastern U.S. on Mar. 24. The financing will be used for transportation equipment.
o On Mar. 31, a $7,589,927 new lease transaction was completed with a retail company in the midwestern U.S. The financing will be used for operational equipment.
• Crestmark Vendor Finance funded $6,544,102 in 57 new transactions in the second half of March. Some highlights include:
o On Mar. 17, an equipment finance transaction was completed with a flag and banner company in the southeastern U.S. The financing will be used for operational equipment.
o An equipment finance transaction was completed with a medical provider in the southeastern U.S on Mar. 24. The financing will be used for essential equipment.
o On Mar. 29, a new equipment finance transaction was completed with a farm in the midwestern U.S. The financing will be used for operational equipment.
o A new equipment finance transaction was completed with a transportation company in the southeastern U.S. on Mar. 31. The financing will be used for operational equipment.
• Government Guaranteed Lending:
o An $800,000 SBA 7(a) term loan facility was provided to a gourmet cookie delivery company in Utah on Mar. 16. The financing will be used for acquisition and for working capital purposes.
o On Mar. 19, a $2,100,000 term loan facility was provided to a wealth advisory firm in California. The financing will be used for acquisition and for working capital purposes.
o A $15,000,000 USDA Business & Industry loan was provided to a solar developer in North Carolina on Mar. 22. The financing will be used for construction purposes.
o On Mar. 26, a $226,800 term loan facility was provided to an independent insurance agency in Michigan. The financing will be used for acquisition and 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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