TROY, Mich., (March 16, 2022) – Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $2,650,000 in ABL/factoring financial solutions for eight new clients; Crestmark Equipment Finance provided $27,844,322 in 26 new transactions; Crestmark Vendor Finance provided $2,624,820 in 25 new small ticket vendor transactions; and the Structured Finance group provided $8,115,000 in financing for two new clients in the second half of February.

Working Capital, Asset-Based Lending and Factoring financial solutions to be used for various purposes such as working capital and to pay off existing lenders were provided:

Accounts Receivable facilities:

•            $500,000 to a staffing company in California.

•            $400,000 to a freight-all-kinds transport company in Massachusetts.

•            $150,000 to a refrigerated trucking company in California.

•            $150,000 to a refrigerated trucking company in South Carolina.

•            $150,000 to a freight-all-kinds transport company in Tennessee.

•            $150,000 to a refrigerated trucking company in Arkansas.

•            $150,000 to a freight broker in Idaho.

Ledgered Line of Credit facilities:

•            $1,000,000 to a transportation services provider in California.

Equipment Finance transactions included, but were not limited to:

•            $9,404,762 to a navigational services company in the southern U.S. for capital equipment.

•            $6,368,726 to a bank in the eastern U.S. for telecommunications equipment.

•            $4,041,931 to an automotive manufacturing company in the midwestern U.S. for Information Technology equipment.

•            $2,838,747 to a machinery manufacturing company in the eastern U.S. for operational equipment.

Vendor Finance equipment finance transactions included, but were not limited to:

•            A telecom company in the southern U.S. for operational equipment.

•            A waste management company in the eastern U.S. for transportation equipment.

•            A fitness company in the eastern U.S. for fitness equipment.

•            A transportation company in the western U.S. for transportation equipment.

Structured Finance solutions, to be used for various purposes such as acquisition, working capital, and more included:

•            $7,700,000 term loan to a dairy farm in Idaho.

•            $415,000 term loan to an insurance agency in Washington.

Crestmark, the Commercial Finance division of MetaBank®, N.A., provides innovative financial solutions for businesses nationwide. The MetaBank mission is Financial Inclusion for All® and the company works to increase financial availability, choice, and opportunity for all. Crestmark’s financing solutions include asset-based lending, accounts receivable financing, lines of credit, term loans, factoring, government guaranteed lending, machinery/equipment financing and equipment leasing. Crestmark has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, renewable energy, medical receivables, government contractors, hospitality/hotels, insurance agencies, and technology hardware/software. The Crestmark division is headquartered in Michigan, with additional offices in California, Louisiana, Tennessee, and representatives nationwide; and a Canadian foreign representative office. www.crestmark.com