Crestmark Provides $29MM+ in Commercial Financing to 126 Businesses

June 24, 2020, 07:15 AM

Filed Under: Transaction Announcements

Related: Crestmark Equipment Finance, Crestmark Vendor Finance

Crestmark announced it provided more than $29 Million in commercial financing to 126 businesses in the first half of June. Crestmark Equipment Finance provided $15,319,877 in four new lease transactions; Crestmark Vendor Finance provided $8,710,820 in 121 new lease transactions; and the Government Guaranteed Lending group provided $5,050,000 in financing for two new clients in the first half of June.

Crestmark Equipment Finance

A $2,558,276 new lease transaction was completed with an air transportation company in the southeastern U.S. on June 1. The financing will be used for operational equipment.
On June 5 and June 8, two new lease transaction totaling $2,862,297 were completed with an energy management company in the midwestern U.S. The financing will be used for IT equipment.
A $9,899,304 new lease transaction was completed with a natural resource company in the southwestern U.S. on June 15. The financing will be used for operational equipment.

Crestmark Vendor Finance
Crestmark Vendor Finance funded $8,710,820 in 121 new transactions in the first half of June. Some highlights include:

On June 1, a lease transaction was completed with a wellness center in the southeastern U.S. The financing will be used for essential equipment.
An equipment finance transaction was completed with a builder in the northwestern U.S. on June 3. The financing will be used for construction equipment.
On June 11, a new equipment finance transaction was completed with a logistics company in the southeastern U.S. The financing will be used for transportation equipment.
A new equipment finance transaction was completed with a food manufacturer in the southwestern U.S. on June 12. The financing will be used for manufacturing equipment.

Government Guaranteed Lending

On June 11, a $1,050,000 SBA 7(a) term loan facility was provided to an investment advisory firm in Washington. The financing will be used for acquisition purposes.
A $4,000,000 term loan facility was provided to a solar developer in California on June 11. The financing will be used for working capital purposes.