TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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May 5, 2021
Source: Crestmark
Crestmark secured a total of $16,518,200 in ABL/factoring financial solutions for 13 new clients; Crestmark Equipment Finance provided $6,616,982 in five new transactions; and Crestmark Vendor Finance provided $5,846,027 in 63 new transactions in the first half of April.
• Crestmark’s Asset-Based Lending and Factoring:
o On Apr. 2, a $500,000 accounts receivable purchase facility was provided to a staffing 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-all-kinds trucking company in Georgia on Apr. 6. The financing will be used for working capital purposes.
o On Apr. 6, a $3,000,000 ledgered line of credit facility was provided to an oilfield services company in Texas. The financing will be used to pay off an existing lender and for working capital purposes.
o A $1,600,000 (USD) and $400,000 (CAD) ledgered line of credit facility was provided to a novelty product producer in Arkansas on Apr. 6. The financing will be used to pay off an existing lender and for working capital purposes.
o On Apr. 7, a $1,500,000 accounts receivable purchase facility was provided to a freight broker in Indiana. The financing will be used for working capital purposes.
o A $150,000 accounts receivable purchase facility was provided to a freight-all-kinds trucking company in North Carolina on Apr. 8. The financing will be used for working capital purposes.
o On Apr. 8, a $300,000 accounts receivable purchase facility was provided to a freight-all-kinds trucking company in California. The financing will be used for working capital purposes.
o A $1,000,000 ledgered line of credit facility was provided to a freight broker in South Carolina on Apr. 12. The financing will be used for working capital purposes.
o On Apr. 13, a $250,000 accounts receivable purchase facility was provided to a freight-all-kinds trucking company in Nevada. The financing will be used for working capital.
o A $350,000 accounts receivable purchase facility was provided to a flatbed trucking company in Colorado on Apr. 15. The financing will be used for working capital.
o On Apr. 15, a $300,000 accounts receivable purchase facility was provided to a refrigerated trucking company in North Carolina. The financing will be used for working capital.
o A $400,000 accounts receivable purchase facility was provided to a refrigerated trucking company in California on Apr. 15. The financing will be used for working capital.
o On Apr. 15, a $5,000,000 asset-based lending facility and $1,700,000 term loan facility were provided to a precision component manufacturing company in Illinois. The financing will be used to pay off an existing lender and for working capital purposes.
• Crestmark Equipment Finance funded $6,616,982 in five new lease transactions in the first half of April. Some highlights include:
o A $2,510,541 new lease transaction was completed with an internet provider in the western U.S. on Apr. 1. The financing will be used for networking equipment.
o On Apr. 13, a $2,754,307 new lease transaction was completed with a plastic products manufacturer in the midwestern U.S. The financing will be used for capital equipment.
• Crestmark Vendor Finance funded $5,846,027 in 63 new transactions in the first half of April. Some highlights include:
o On Apr. 1, an equipment finance transaction was completed with a medical company in the western U.S. The financing will be used for a medical equipment.
o On Apr. 7, an equipment finance transaction was completed with a long-haul transportation company in the western U.S. The financing will be used for tractors and trailers.
o A new equipment finance transaction was completed with a metal routing distributor in the southeastern U.S. on Apr. 9. The financing will be used for a roof panel machinery.
o A new equipment finance transaction was completed with a medical company in the western U.S. on Apr. 15. The financing will be used for medical equipment.
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
