12 transactions and more than $24 Million provided by Crestmark during the month of February

TROY, MICHIGAN (March 1, 2013) – During the month of February, Crestmark funded a total of $24,350,000 in financial solutions for 12 new clients.

  • Crestmark provided a $750,000 ledgered line of credit facility to a Michigan general labor staffing services company on February 5. Financing will be used for working capital.
  • On February 6, a $750,000 purchase facility was provided to California-based automotive hauler. The company has over 70 trucks in operation. Financing offers amortization and working capital.
  • A $600,000 ledgered line of credit facility was provided February 8 to an Illinois company that serves as a manufacturer’s rep for the commercial heating and cooling industry.
  • On February 13, Crestmark provided a $500,000 ledgered line of credit facility with advances on accounts receivable to a California company that sells a variety of media storage, such as backup tapes, flash drives, CD/DVDs, recordable Blu-ray discs and more. Financing will be used for working capital.
  • On February 13, a Missouri rehabilitation company was provided a $2,500,000 asset-based line of credit facility. The company provides contract therapy services to skilled nursing facilities, schools, and outpatient therapy clinics. Financing will be used for amortization and working capital.
  • Also on February 13, Crestmark provided a $2,000,000 ledgered line of credit facility to a California company that distributes and installs food service equipment for governmental agencies. Financing will be used for amortization and working capital.
  • On February 14, a $2,000,000 accounts receivables purchase facility was provided to an IT staffing company in Minnesota. Financing will be used for working capital.
  • On February 15, a $2,000,000 ledgered line of credit facility was provided to a national electrical contractor based in Florida. The company provides energy-saving lighting products and installation services.
  • On February 22, a $4,500,000 asset-based line of credit facility with advances on accounts receivable and inventory was provided to a Michigan-based company that produces concrete component manufacturing equipment for both domestic and international concrete companies.
  • On February 25, a $750,000 ledgered line of credit facility with advances on accounts receivable was provided to a Georgia-based mattress manufacturer and distributor.
  • On February 26, a $6,000,000 asset-based line of credit facility with advances on accounts receivable and inventory was provided to a California company that specializes in the development of redemption prizes for recreational facilities.
  • Also on February 26, a $2,000,000 ledgered line of credit facility with advances on accounts receivable was provided to a Michigan start-up that brokers and trades ferrous and non-ferrous metals.

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 and factoring. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with offices in Florida, Louisiana, Tennessee, New York, Alabama, California, Illinois, Ohio, Missouri, North Carolina, and Texas. www.crestmark.com

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Crestmark Hires Philip J. Yanick as Chief Risk Officer

(TROY, MICHIGAN, February 6, 2013) Crestmark is pleased to announce that it has hired Philip J. Yanick as Senior Vice President, Chief Risk Officer. In his new role, Yanick will be responsible for enhancing Crestmark’s risk management practices and assisting in the continued growth and success of the bank. Yanick has extensive experience working with the financial services industry having worked with the FDIC for over 33 years in diverse roles. Most recently, he was a Senior Commissioned Examiner responsible for oversight, scheduling and assessment examinations regarding IT and data processing; he also assisted with safety and soundness examinations, assessed the asset quality of distressed portfolios, and conducted special investigations on an interagency basis. Yanick has a B.S. in Finance from Wayne State University, Michigan, is a Certified Information Systems Auditor (CISA), and has numerous other certifications. Yanick works out of the Troy, Michigan, Corporate Headquarters.

“We are excited to welcome someone of Phil’s caliber and experience to Crestmark,” said Mick Goik, Crestmark President/COO.

“Phil has been a valuable resource for Crestmark through the years, and we are thrilled to have him as part of the Crestmark family,” said W. David Tull, Crestmark Founder and CEO.

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, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with offices in Florida, Louisiana, Tennessee, New York, Alabama, California, Illinois, Ohio, Missouri, North Carolina, and Texas. www.crestmark.com

Nine Transactions Closed the Last Weeks of January Total more than $16 Million for Crestmark

TROY, MICHIGAN (February 5, 2013) – 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.

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 and factoring. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with offices in Florida, Louisiana, Tennessee, New York, Alabama, California, Illinois, Ohio, Missouri, North Carolina, and Texas. www.crestmark.com

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Crestmark Closes Five Transactions in the First Two Weeks of January Totaling more than $4.5 Million

TROY, MICHIGAN (January 15, 2013) – A total of $4,550,000 in financial solutions were secured for five new Crestmark clients during the first two weeks of January.

  • On January 4, a $350,000 accounts receivable ledgered line of credit facility was provided for a distributor of baby products. The Florida-based company distributes to large retail chain stores.
  • A $2,500,000 accounts receivable purchase facility was provided to a Tennessee trucking company on January 7. The company has been in business for more than four years, has over 150 employees and hauls parcels across the country. Funding will be used for amortization and to improve customer service.
  • On January 8, a Virginia-based start up staffing company specializing in middle management was provided a $200,000 ledgered line of credit facility with advances on accounts receivable. Funding will be used for working capital.
  • A $500,000 accounts receivable facility was provided January 9 to an Illinois interstate trucking company that hauls automobiles across the country. Funding will be used for amortization and working capital.
  • On January 11, Crestmark provided a $1,000,000 ledgered line of credit facility for a Maine-based IT staffing company that consults in industries ranging from engineering, manufacturing, automotive, government, software development and more. Funding will be used for amortization and working capital.

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 and factoring. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with offices in Florida, Louisiana, Tennessee, New York, Alabama, California, Illinois, Ohio, Missouri, North Carolina, and Texas.

www.crestmark.com

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Crestmark Chicago Office Expands, adds Scott Frederick

(TROY, MICHIGAN, January 8, 2013) In an effort to strengthen the support of businesses in the Chicagoland area, Crestmark has expanded its Wacker Drive office. Scott Frederick, Regional First Vice President, Business Development, and top sales performer, has relocated to the Windy City. In December, the Michigan native made the move with his family, leaving the Midwest Regional Office in Troy, Michigan, where he has worked since 2005. In addition to the supporting the Chicagoland area, Frederick will continue to support both western Michigan and his existing contacts in Michigan.

Crestmark has had a presence in Chicago over the years, and is making the office expansion a priority in 2013. Frederick will focus on helping to expand Crestmark’s presence to support businesses in need of working capital financing in the diverse southeastern Chicago area.

“This is not only a wonderful opportunity to aid in the financial growth of area businesses, but to help Crestmark continue to grow in the Chicago market,” said Scott Frederick. “My family and I are excited to become a part of this exciting, energetic city.”

The Chicago office is located on 200 South Wacker Drive. For more information, please visit www.crestmark.com.

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 and factoring. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with offices in Florida, Louisiana, Tennessee, New York, Alabama, California, Illinois, Ohio, Missouri, North Carolina, and Texas. www.crestmark.com

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Crestmark Transactions total more than $3 Million during the Second Half of November

TROY, MICHIGAN (December 3, 2012) – During the second half of November Crestmark secured financial solutions for four new clients totaling $3,052,000. Here is the breakdown:

  • On November 13 a $1,152,000 Term Loan facility was funded for a New York manufacturer of disposable plastic products for the food industry. Funding will be used for working capital.
  • A $250,000 Traditional Factoring facility was funded November 20 for a New York start-up that distributes handbags and fashion accessories to large retailers across the country.
  • On November 21 Crestmark funded a $150,000 Accounts Receivable Purchase facility for a small trucking company based in Kentucky. Funding will be used for amortization and working capital.
  • November 30, Crestmark funded a $1,500,000 Ledgered Line of Credit facility for a California-based product development, distribution and marketing company that specializes in therapeutic products for children.

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 and factoring. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with offices in Florida, Louisiana, Tennessee, New York, Alabama, California, Illinois, Ohio, Missouri, North Carolina, and Texas. www.crestmark.com.