Crestmark (Pathward)

Overview

Crestmark was a bank-owned factor based in the Detroit suburbs. Pathward Financial, formerly called Meta Financial Group, acquired Crestmark Bancorp in 2018. That date comes from the timeline in Pathward's October 2026 investor presentation. The same timeline shows Meta selling its trademarks in 2021 and completing its rebrand as Pathward Financial in 2022.

crestmark.com now redirects to pathward.com. In November 2026, the Pathward homepage still linked to a Crestmark-branded client portal labelled "Commercial Financing." New business is marketed under the Pathward name.

The bank is Pathward, National Association. The FDIC's BankFind data lists it as an active institution in Sioux Falls, South Dakota. It shows an establishment date of January 1, 1954 and roughly $7.3 billion in total assets as of June 30, 2026. Pathward Financial trades on Nasdaq under the symbol CASH.

The parent company is headquartered in Sioux Falls. According to Pathward's annual report, the Commercial Finance business operates from offices in Troy, Michigan; Franklin, Tennessee; and Toronto, Ontario. The investor presentation shows the commercial finance portfolio at about $4.4 billion.

Services

Pathward's annual report for the fiscal year ended September 30, 2025 lists these Commercial Finance products, all offered nationwide:

• Factoring
• Term lending
• Asset-based lending
• Lease financing
• Government guaranteed lending

Pathward's working capital page describes programs built around a business's receivables, inventory, machinery or equipment. It says funding is "tailored and calibrated" to each borrower and that commercial finance products are subject to underwriting. The page does not use the word factoring. Pathward mentions moving from a bank line that has become too tight as a use for its asset-based products.

Pathward's educational article on asset-based lending and factoring says recourse and non-recourse factoring options exist. It says factoring requires notifying customers that a third party is handling their invoices. It also says factoring can provide frequent advances, weekly or daily as needed.

Pathward says it handles each deal "with care, clarity, and speed" and has representatives nationwide.

Industries served

Pathward's industries page names these sectors it finances in the US and Canada:

• Manufacturing
• Staffing
• Alternative energy
• Insurance
• Oil and gas services
• Technology
• Construction
• Distribution

Some of these listings refer to equipment finance rather than factoring.

Published terms

The figures Pathward does publish come from its filings:

• Pricing structure. The October 2026 investor presentation describes working capital loans as primarily variable rate, with most rate floors at or above 6%. This covers the whole working capital category, not factoring alone.
• Portfolio size. The same presentation shows factoring balances of $213.9 million at the end of the fourth quarter of fiscal 2026, down from $217.5 million a year earlier. Asset-based lending stood at $697.2 million.
• Trend. The annual report says factoring loans fell by $144.8 million during fiscal 2025, while term lending grew by $747.9 million.
• Collections. The investor presentation says the bank has "dominion of funds" on working capital loans. Customer payments flow to accounts the bank controls.
• Reporting. The annual report says factoring customers provide detailed accounts receivable reporting.

The Pathward article on asset-based lending versus factoring says factors may advance up to 90% of an invoice and typically charge a service fee of 1% to 3%. The article presents this as a general description, not as a Pathward price.

How to apply

Pathward markets factoring as part of its working capital lending. Applications go through underwriting under the bank's credit policy. Pathward does not publish funding times or setup timelines. Existing Crestmark clients continue to use the Crestmark-branded portal linked from Pathward's site.