Crestmark Closes Three Transactions Totaling Over $4.5 Million in the Last Half of March
TROY, MICHIGAN (April 2, 2014) – Crestmark secured a total of $4,750,000 in financial solutions for three new clients in final two weeks of March.
• On March 19 a $1,500,000 asset based lending facility was provided to a supplier of LED light bulbs in Michigan. The funds will be used for working capital needs and to facilitate growth.
• A $3,000,000 ledgered line of credit was provided on March 28 to a Michigan automotive coatings company. The facility was used for working capital purposes.
• On March 28, a $250,000 accounts receivable purchase facility was secured to provide working capital to a Michigan start-up freight broker.
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 machinery/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, California, Indiana, Ohio, Maryland, North Carolina, and Texas. www.crestmark.com