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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Iain Michie Joins Crestmark Team

(TROY, MICHIGAN, November 19, 2012) – Crestmark is pleased to welcome Iain Michie, Vice President, Debtor Credit Manager. Michie works out of the Troy, Michigan, office.

Michie joins Crestmark from Marquette Commercial Finance in Texas, where he worked as a Credit Manager for five years. With over 45 years in the financial industry, Michie has tackled a range of positions – from collector, analyst, account, portfolio manager to CEO and President. He established himself working at a number of companies, including United Factors, Manufacturers Hanover, Heller, and Main Factors.

“Iain’s experience and knowledge are unparalleled and he will be a tremendous asset to our team,” said Jack R. Roper, Group President. “I enjoyed working with him in the past, and am glad to have him as a part of the Crestmark family.”

A native of Scotland, Michie moved to Canada and as a young adult spent 10 years working in the Arctic trading furs with the Eskimos. He began his financial career in Canada, and later moved with his family to Dallas. Michie has four children, is the proud grandfather to eight grandchildren, and this December he will celebrate his 25th wedding anniversary with wife Shannon.

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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