TROY — During the last few weeks of December a total of $12.85 million in financial solutions was secured for 11 new Crestmark clients.
They were:
• On December 18 a $4 million Ledgered Line of Credit facility was provided to a Texas company that provides various oilfield services. Funding will be used for amortization and provide additional working capital.
• Crestmark provided a $1 million Traditional Factoring facility arrangement on December 19 for a Texas-based importer that sells apparel to large retailers across the county.
• Also on December 19, a $350,000 Accounts Receivable Purchase facility was provided to an Alabama-based healthcare staffing company. Funding will be used for amortization and additional working capital.
• A $500,000 Ledgered Line of Credit facility was funded December 21 for a Michigan screen-printing and embroidery company. The funding will provide working capital.
• Also on December 21, a $500,000 Accounts Receivable Purchase facility was arranged for a Louisiana-based company that focuses on costal monitoring and environmental and safety compliance training. Funding will provide amortization and additional working capital.
• A $750,000 Ledgered Line of Credit facility with advances in Accounts Receivable was secured for a California-based cheese company on December 24. The funding will provide additional working capital.
• On December 26 a $2.5 million Ledgered Line of Credit facility secured by Accounts Receivable and inventory was provided to a Michigan-based company that specializes in decorative gems and stone accents.
• On December 27 a $1.75 million Ledgered Line of Credit facility with advances in Accounts Receivable and inventory was provided to a California company that specializes in a wide variety of sweet to savory products.
• Also on December 27, a $500,000 Ledgered Line of Credit facility was arranged for a Florida-based physician staffing and recruitment company. Funding will provide additional working capital.
• On December 28 an Illinois trucking company was funded a $500,000 Accounts Receivable Purchase facility. Funding will provide working capital for this start-up company that hauls loads east of the Mississippi.
• Also on December 28, a Wisconsin metal treatment company received a $500,000 Ledgered Line of Credit facility with advances in Accounts Receivable. Funding will be used for acquisition and working capital.
