Crestmark Closes Eight Transactions Totaling $16 Million in the Last Weeks of April
TROY, MICHIGAN (May 8, 2013) – Crestmark secured a total of $16,000,000 in financial solutions for eight new clients since April 15.
• On April 15, a $1,000,000 ledgered line of credit was provided to a California staffing company.
• On April 17, a $5,000,000 ledgered line of credit facility was provided to a California distributor of performance apparel for men, women, and children.
• A $5,000,000 asset-based line of credit facility with advances on inventory was also provided on April 17 to a Texas manufacturer and distributor of business accessories. Funding will be used to pay off a prior lender and provide working capital.
• On April 19, a $750,000 traditional factoring facility was provided to a Florida company that imports moderate- to high-end footwear and sells to specialty retailers across the country.
• Also on April 19, a $500,000 ledgered line of credit facility was provided to a Texas company providing construction and maintenance solutions to the telecommunications and utilities industries.
• A $250,000 traditional factoring facility was provided on April 26 to a Florida importer of knit apparel that sells to apparel distributors nationwide.
• On April 29, a $2,000,000 asset-based line of credit facility with advances on accounts receivable was provided to an Ohio contract carriage and specialized logistics service company.
• On April 30, a $1,500,000 asset-based line of credit facility with advances on accounts receivable and inventory was provided to a Michigan manufacturer of confectionary goods.
Crestmark is a nationally known and respected FDIC-insured bank that provides innovative financial solutions for small- to medium-sized businesses. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, factoring and equipment financing. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with locations in Florida, Louisiana, Tennessee, New York, and Illinois; representatives in Alabama, California, Ohio, Maryland, North Carolina, and Texas. www.crestmark.com