TROY — Crestmark secured a total of $16,500,000 in financial solutions for nine new clients during the last weeks of January.
- On January 14, Crestmark provided a $1,000,000 ledgered line of credit facility for a California manufacturer and distributor of firearm components and accessories. Funding will be used for working capital.
- Also on January 14, a $750,000 accounts receivable purchase facility was provided for a Texas-based company specializing in various services related to mapping and surveying. Funding will offer working capital.
- A $5,000,000 asset-based line of credit facility was provided to a New York company on January 16. The company is in the business of selling consumer products to large retailers across the country.
- On January 18, Crestmark provided a $2,000,000 ledgered line of credit facility with advances on accounts receivable and inventory. The New York-based company manufactures nutritional products/supplements, including their own private label.
- A $5,200,000 asset-based lending and term loan facility with advances on accounts receivable, inventory, machinery and equipment, was funded January 24 to a Michigan-based screw machine shop. The company specializes in small screws and fittings used in the manufacturing of automobiles, heavy duty trucks, construction equipment and off-road vehicles.
- Also on January 24, Crestmark provided a $250,000 term loan facility with advances on machinery and equipment to an Indiana company that designs and manufactures currency change for self-service coin-operated industries – such as laundry, carwash, amusement, and vending machines. Funding will be used for working capital.
- On January 29, Crestmark provided an $800,000 ledgered line of credit facility with advances on accounts receivable to a North Carolina manufacturer and nationwide distributor of safety equipment and supplies. Funding will be used for working capital.
- On January 31, an existing Crestmark client was provided a $1,000,000 term loan facility. This Michigan-based customer is utilizing one of Crestmark’s new equipment financing products.
- Also on January 31, a $500,000 term loan facility with advances on machinery and equipment was provided to a national electrical contractor based in Florida. The company provides energy-saving lighting products and installation services.
