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December 13, 2021
Source: Crestmark
TROY, Mich., (December 13, 2021) – Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $13,600,000 in ABL/factoring financial solutions for 23 new clients; Crestmark Equipment Finance provided $24,804,003 in 29 new transactions; Crestmark Vendor Finance provided $9,938,833 in 76 new transactions; the Government Guaranteed Lending group provided $8,195,000 in financing for three new clients; and the Joint Ventures group provided $1,007,250 in one new transaction in the month of November.
Asset-Based Lending and Factoring financial solutions to be used for various purposes such as working capital and to pay off existing lenders included:
Accounts Receivable facilities:
• $2,000,000 to a refrigerated transport company in California.
• $1,000,000 to a Freight All Kinds trucking company in Illinois.
• $1,000,000 to an integrated solutions provider in Texas.
• $750,000 to a Freight All Kinds trucking company in Nebraska.
• $500,000 to a dry and refrigerated trucking company in Nova Scotia.
• $500,000 to an automotive parts distributor in Michigan.
• $300,000 to a materials transport company in Texas.
• $300,000 to a transportation company in Ohio.
• $250,000 to a refrigerated FAK trucking company in Massachusetts.
• $250,000 to an intermodal transportation company in Georgia.
• $200,000 to a dry van trucking company in Texas.
• $200,000 to a Freight All Kinds trucking company in Texas.
• $150,000 to a power-only trucking company in Alabama.
• $150,000 to a dry van trucking company in Colorado.
• $150,000 to a power-only trucking company in Washington DC.
• $150,000 to a trucking company in Texas.
• $150,000 to a dry van trucking company in Idaho.
• $150,000 to a trucking company in Georgia.
• $150,000 to a regional trucking company in South Carolina.
• $150,000 flatbed trucking in Florida.
• $150,000 to a trucking company in Maryland.
Ledgered Line of Credit facilities:
• $3,000,000 to a lighting manufacturer in Texas.
• 2,000,000 to a staffing services company California.
Equipment Finance transactions included, but were not limited to:
• $2,776,526 to a government agency in the eastern U.S. for IT equipment.
• $5,264,228 to a linen supply company in the eastern U.S. for transportation equipment.
• $2,605551 to a telecommunications company in the midwestern U.S. for networking equipment.
• $2,654,902 to a financial services company in the eastern U.S. for communications equipment.
Vendor Finance equipment finance transactions included, but were not limited to:
• A fitness company in the southern U.S. for fitness equipment.
• A laser company in the southern U.S. for operational equipment.
• A millwork company in the southern central U.S. for machinery.
• A trucking company in the southern central U.S. for transportation equipment.
• A sod company in the southern U.S. for operational equipment.
• A timber transport company in the southern U.S. for transportation equipment.
• A medical company in the western central U.S. for operational equipment.
• A trucking company in the southeastern central U.S. for transportation equipment.
Government Guaranteed Lending financial solutions, to be used for various purposes such as acquisition, working capital, and more included:
• $7,425,000 term loan to a solar company in California.
• $420,000 SBA 7(a) loan to a welding and fabrication company in Arizona.
• $350,000 SBA 7(a) loan to an independent insurance agency in Idaho.
Joint Ventures financial solutions included:
• $1,007,250 operating lease to a solar developer in New York.
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
Asset-Based Lending and Factoring financial solutions to be used for various purposes such as working capital and to pay off existing lenders included:
Accounts Receivable facilities:
• $2,000,000 to a refrigerated transport company in California.
• $1,000,000 to a Freight All Kinds trucking company in Illinois.
• $1,000,000 to an integrated solutions provider in Texas.
• $750,000 to a Freight All Kinds trucking company in Nebraska.
• $500,000 to a dry and refrigerated trucking company in Nova Scotia.
• $500,000 to an automotive parts distributor in Michigan.
• $300,000 to a materials transport company in Texas.
• $300,000 to a transportation company in Ohio.
• $250,000 to a refrigerated FAK trucking company in Massachusetts.
• $250,000 to an intermodal transportation company in Georgia.
• $200,000 to a dry van trucking company in Texas.
• $200,000 to a Freight All Kinds trucking company in Texas.
• $150,000 to a power-only trucking company in Alabama.
• $150,000 to a dry van trucking company in Colorado.
• $150,000 to a power-only trucking company in Washington DC.
• $150,000 to a trucking company in Texas.
• $150,000 to a dry van trucking company in Idaho.
• $150,000 to a trucking company in Georgia.
• $150,000 to a regional trucking company in South Carolina.
• $150,000 flatbed trucking in Florida.
• $150,000 to a trucking company in Maryland.
Ledgered Line of Credit facilities:
• $3,000,000 to a lighting manufacturer in Texas.
• 2,000,000 to a staffing services company California.
Equipment Finance transactions included, but were not limited to:
• $2,776,526 to a government agency in the eastern U.S. for IT equipment.
• $5,264,228 to a linen supply company in the eastern U.S. for transportation equipment.
• $2,605551 to a telecommunications company in the midwestern U.S. for networking equipment.
• $2,654,902 to a financial services company in the eastern U.S. for communications equipment.
Vendor Finance equipment finance transactions included, but were not limited to:
• A fitness company in the southern U.S. for fitness equipment.
• A laser company in the southern U.S. for operational equipment.
• A millwork company in the southern central U.S. for machinery.
• A trucking company in the southern central U.S. for transportation equipment.
• A sod company in the southern U.S. for operational equipment.
• A timber transport company in the southern U.S. for transportation equipment.
• A medical company in the western central U.S. for operational equipment.
• A trucking company in the southeastern central U.S. for transportation equipment.
Government Guaranteed Lending financial solutions, to be used for various purposes such as acquisition, working capital, and more included:
• $7,425,000 term loan to a solar company in California.
• $420,000 SBA 7(a) loan to a welding and fabrication company in Arizona.
• $350,000 SBA 7(a) loan to an independent insurance agency in Idaho.
Joint Ventures financial solutions included:
• $1,007,250 operating lease to a solar developer in New York.
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
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