Great Lakes Metro Chambers Advocate for Infrastructure Funding, Trade and Immigration Policy Reform

The Chamber, along with members of the GreatGLMCC trip to DC Lakes Metro Chambers Coalition, met with members of Congress and their staff during a two-day legislative fly-in to Washington, D.C. last week to discuss key issues important to the business future of the Great Lakes/Midwest region.

More than 50 meetings were held with key members of Congress, including U.S. Rep. Mike Bishop, House Ways and Means Committee member; U.S. Rep. Steve Chabot, chairman of the House Small Business Committee; U.S. Rep. Bill Shuster, House Transportation Committee chairman; and U.S. Sens. Debbie Stabenow and Gary Peters.

Coalition members expressed their support for infrastructure legislation and funding for infrastructure projects for the Great Lakes region. Discussion also focused on H-1B visa reform to encourage more high-skilled immigrant workers, and building a strong trade relationship with Canada as necessary to the economic growth of the region. In addition, Coalition members emphasized the importance of comprehensive energy policy.

U.S. Rep. Bill Huizenga (R-Zeeland) joined the fly-in participants and discussed his role as chairman of the US-Canada Interparliamentary Group as well as the general atmosphere in Congress since the presidential election. His comments to the group echoed the message from several lawmakers — infrastructure, immigration reform, and trade are priorities, but when and how they will be addressed remains uncertain.

For more information on the Great Lakes Metro Chambers Coalition, visit http://greatlakesmetrochambers.com.

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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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 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 Closes 11 Transactions Totaling nearly $13 Million the Last Weeks of December 2012

TROY, Michigan (January 2, 2013) – During the last few weeks of December a total of $12,850,000 in financial solutions was secured for 11 new Crestmark clients.

•On December 18 a $4,000,000 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 $1,000,000 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 $2,500,000 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 $1,750,000 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.

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

Crestmark Closes Seven Transactions Totaling more than $6.5 Million the First Two Weeks of December

TROY, Michigan (December 19, 2012) – During the first two weeks of December a total of $6,550,000 in financial solutions was secured for seven new Crestmark clients.

•A $500,000 Accounts Receivable Purchase facility was funded December 3 for a California trucking company. The company transports produce and meats throughout the United States. Funding will be used for amortization and to reduce borrowing costs.

•Also on December 3, a South Carolina trucking company received a $150,000 Accounts Receivable Purchase facility to help facilitate start-up. This trucking company hauls general freight, and was referred to Crestmark by an existing client.

•A North Carolina plastic injection molding company was provided a $1,500,000 Accounts Receivable and Inventory Ledgered Line of Credit facility on December 4. Funding will be used for working capital.

•Crestmark provided a $1,500,000 Traditional Factoring facility arrangement on December 6 for a New Jersey-based company that sells designer accessories to retailers across the county.

•An Ohio printing company was funded a $1,750,000 Asset-Based Lending facility with advances on accounts receivable and inventory on December 7.

•On December 13 a New York computer assemblies and manufacturer was funded a $400,000 Term Loan facility with advances on machinery and equipment. The company has been in business for over 37 years.

•Also on December 13, and Illinois hospitality staffing company received a $750,000 Ledgered Line of Credit facility with advances on Accounts Receivable. The client was sourced from an existing customer and funding will be used for 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

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.