Crestmark Closes Five Transactions Totaling More than $5.5 Million in December
TROY, MICHIGAN (January 6, 2014) – Crestmark secured a total of $5,800,000 in financial solutions for five new clients in December.
• On December 10, a traditional factoring facility was provided to an importer and distributor of bicycles and accessories located in North Carolina.
• A $300,000 accounts receivable purchase facility was provided on December 17 to provide working capital for a start-up trucking company in Kentucky.
• On December 20, a $500,000 accounts receivable purchase facility was provided to a Texas provider of oil and gas well services.
• A $500,000 traditional factoring facility was provided on December 26 to a designer and distributor of fashion accessories in Arizona.
• On December 31, a $4,000,000 asset based lending facility was provided to a Florida manufacturer of construction products.
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 California, Florida, Louisiana, Tennessee, New York, and Illinois; representatives in Alabama, Maryland, North Carolina, and Texas. www.crestmark.com