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Working Capital Solutions Provided in June 2012

PRESS RELEASE
For Immediate Release July 2, 2012
 
Contact: Lisa Beattie
Phone: 248-267-1639

Crestmark provided $25,225,000 in working capital facilities to 23 businesses in June 2012.           

 Crestmark’s Michigan office provided:     
 
  • $500,000 ledgered line of credit to an Illinois hospitality services company
  • $250,000 ledgered line of credit to a Nevada provider of fabricated stone work
  • $250,000 accounts receivable purchase facility to a Michigan medical staffing company
  • $3,000,000 asset based lending facility to a printing equipment manufacturer
  • $1,250,000 asset based lending facility to an Ohio uniform and textile leasing company
  • $500,000 ledgered line of credit to a California manufacturer of plastic extrusion products 
Crestmark’s Florida office provided:
 
  • $750,000 ledgered line of credit to a North Carolina staffing company
  • $5,000,000 ledgered line of credit to a North Carolina race team
  • $3,750,000 asset based lending facility to a North Carolina national staffing company
  • $250,000 recourse factoring facility to a North Carolina manufacturer of shelves and display cases
  • $250,000 ledgered line of credit to a Florida manufacturer of interior decor products
Crestmark’s New York office provided:
 
  • $2,500,000 ledgered line of credit to a New York temporary staffing company
  • Funds as collected agreement to a New York import company
Crestmark’s Louisiana office provided:  
 
  • $300,000 accounts receivable purchase facility to a Utah service provider to the energy industry
  • $1,000,000 ledgered line of credit to a Texas staffing and rental company serving the oil and gas industry
  • $1,300,000 accounts receivable purchase facility to a Texas distributor of office supplies
  • $1,525,000 ledgered line of credit to a Texas printing company
Crestmark’s Tennessee office provided:  
 
  • $1,400,000 accounts receivable purchase facility to a Minnesota refrigerated trucking company
  • $900,000 accounts receivable purchase facility to a California refrigerated food carrier
  • $150,000 accounts receivable purchase facility to a California trucking company
  • $125,000 accounts receivable purchase facility to a Texas general freight hauler
  • $150,000 accounts receivable purchase facility to a Wisconsin start-up trucking company
  • $125,000 accounts receivable purchase facility to a Florida steel hauler
Crestmark is a nationally recognized provider of innovative financial solutions for small- to medium-sized businesses.  Financing solutions include asset-based lending, accounts receivable financing, lines of credit and factoring.  Crestmark finances most business-to-business companies, and has extensive experience in many industries including transportation, manufacturing, staffing, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with offices in Florida, Louisiana, Tennessee, New York, Alabama, California, Georgia, Illinois, Ohio, Missouri, North Carolina, and Texas.  www.crestmark.com
 
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