What type of industries does Crestmark Bank finance?
Distributors, Manufacturers, and Service industries

What are the characteristics of a typical client?
Start-up, Explosive growth, Turnaround/Transitional

How are fees generally proposed?
Depends on deal

Does Crestmark fund invoices already outstanding or only new?
Crestmark funds both outstanding and new invoices

Does Crestmark approve all customers?
No

Do you offer other types of financing other the accounts receivable?
Yes. Crestmark offers Inventory Financing in conjunction with Accounts Receivable Financing

When using Crestmark where are my customers required to send their payments?
Payments are mailed to a P.O. Box set-up by Crestmark Bank

What is the notification process?
A letter is sent to each prospect's customers using the Prospect's letterhead and signed by the President/Owner

What changes are going to impact my customer relationship?
Ongoing confirmation calls on a random basis

Why would I choose to work with Crestmark?
Crestmark is professional, experienced, reliable. Crestmark will conduct the financing and improvement of collections, and provide additional working capital to better service your customer.

How long does funding take?
Initial funding in 5 – 15 business days, thereafter, same day.

What do I need to do to get started?
Completed application, A/R Aging, A/P Aging, Customer list, Articles of Incorporation, last 2 financial statements and current interim (if applicable), sample of 3 invoices with back-up information including purchase order of contracts.

Does Crestmark handle any other type of financing beside accounts receivable, asset based lending?
Yes, Crestmark also handles Factoring

Must I sell all of my receivables?
No. Only sell those receivables that you want, when you want.

What are typical advance rates?
Advance rates depend on your industry and situation, but range from 70% to 95%.

How long until I get cash?
It normally takes 48 hours to fund your first invoices. Subsequent invoices are purchased the same day, provided they are received by 12:30 P.M.

What industries do you purchase invoices from?
We deal in all industries, with the exception of construction and third party medical.

What is the application process?
We require a completed application, current Accounts Receivable and Accounts Payable Agings, and invoice copies with purchase orders from the five (5) largest customers in order to determine the financing structure that will meet your needs.

What if other banks have already said, ‘No”?
CRESTMARK BANK underwrites the credit strength of your customers, not that of your company. We focus on current sales, future sales, and the value of your company's Accounts Receivables. Our focus is not on your financial statements.

How long am I committed to selling my receivables?
You make that determination. CRESTMARK BANK typically does not require contract periods.

What if my assets are already pledged?
We must have a first lien position on your accounts receivable. If they are pledged, a subordination from the senior lien holder must be obtained.

How are invoices verified?
We use a variety of written and verbal methods to confirm that services or products have been delivered and that payment is expected on any invoices that we purchase. Our procedures are designed to ensure that your customers are not unduly inconvenienced.

Do you do my credit work?
We are online with the various credit databases and perform full credit services, usually eliminating any credit work on your part.

What if my customer files bankruptcy?
We suffer the loss if our contract is non-recourse, while you take the loss on a recourse contract.