Financial Services FAQ

We offer financing to Distributors, Manufacturers, and Service industries.

Many of our clients are start-ups, in the middle of an aggressive growth period, or in a turnaround or transitional phase.

Because we tailor our financial offerings to each individual client, there is no standard/general way that the fees are proposed.

Crestmark funds both outstanding and new invoices.

No. There are certain criteria that customers (or account debtors) must meet. Contact one of our business development officers for more information.

Yes. In some cases, Crestmark offers Inventory Financing in conjunction with Accounts Receivable Financing.

Payments are mailed to a P.O. Box set up by Crestmark.

The notification process varies depending on the type of financing that will work best for your situation; your salesperson (or business development officer) will explain more.

Your customer relationships will not be impacted at all. They will receive occasional random confirmation calls from courteous professionals who process your ongoing funding, and you’ll be alerted if any of your customers are falling behind invoice terms.

Crestmark is professional, experienced, and reliable. And as a direct lender, we don’t rely on others for our source of funds. Crestmark will conduct the financing and improvement of collections, as well as provide additional working capital.

Initial funding is usually available in 5 – 15 business days, and funding thereafter is available the same day.

Although it can vary depending on the type of financing that will work best for your specific needs, in order to get started, you will need a completed application, Accounts Receivable (A/R) Aging, Accounts Payable (A/P) Aging, Articles of Incorporation, your company customer list, your customer’s financials, a current interim (if applicable), and a sample of three (3) invoices with back-up information including a purchase order of contracts.

Yes, Crestmark also handles Factoring.

No, sell only those receivables that you want, when you want.

Advance rates depend on your industry and situation, but typically range from 70% to 95%.

It normally takes 48 hours to fund your first invoices. Subsequent invoices are purchased the same day, provided they are received by the time stated in your agreement.

We deal in all industries, with the exception of construction and third party medical.

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.

We are frequently able to provide solutions to companies that have been turned down by other banks. Crestmark bases your financial agreement on the credit strength of your customers and the strength of your company’s account receivables.

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

We use written and verbal methods by courteous professionals to confirm that services or products have been delivered, and that payment is expected on invoices that we purchase. Our procedures are designed to ensure that your customers are not inconvenienced.

We work with various credit databases and have resources to perform credit services – usually eliminating any credit work on your part.