Crestmark Provides $23.1MM+ in Commercial Financing to 11 Businesses

November 19, 2020, 07:05 AM

Filed Under: Transaction Announcements

Related: Crestmark, Crestmark Equipment Finance

Crestmark announced it provided more than $23.1 million in commercial financing to 11 businesses in the first half of November. Crestmark Equipment Finance provided $4,371,057 in three new lease transactions; Crestmark secured a total of $6,050,000 in ABL financial solutions for five new clients; and the Government Guaranteed Lending group provided $12,722,000 in financing for three new clients.

Crestmark Equipment Finance

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.
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.
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.

Crestmark’s Asset-Based Lending

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.
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.
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.
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.
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.

Government Guaranteed Lending

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.
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.
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.